Kiwi dollar tests 0.60 pivot once more and reaches new 2025 high

NZDUSD surged to a new 2025 high on Monday, extending Friday’s 1.9% rally, fueled by fresh US tariff threats on Apple and the European Union, followed by a policy U-turn with the EU that weakened the US dollar and boosted risk appetite.

The Kiwi tested the key psychological 0.60 level again, overcoming previous rejections seen in late April and early May.

Near-term momentum is supported by a daily Tenkan/Kijun-sen bullish crossover and a thick daily cloud, though a loss of bullish momentum would serve as an early warning, as bulls continue to face resistance above the 0.60 barrier.

The risk of another failed attempt to break decisively above 0.60 remains, given past rejections, suggesting a potential stall scenario.

Watch today’s price action around 0.60 for fresh directional clues.

RBNZ policymakers are scheduled to meet on Wednesday, with a widely expected 25 basis point rate cut, but the market’s focus will be on any guidance regarding the central bank’s future moves.

Res: 0.6037; 0.6087; 0.6100; 0.6167
Sup: 0.6000; 0.5946; 0.5931; 0.5900