NZD/USD trims gains as US Dollar recovers

The greenback stabilized during the American session and trimmed some losses, particularly against commodity currencies. NZD/USD peaked earlier at 0.6916, reaching the highest level since Thursday. 

Currently, the pair trades at session lows at 0.6879, more than 30 pips below daily highs. Intraday momentum shifted from positive to negative. Price is below the 20-hour moving average, but still with a 25-pips gain for the day. 

The US dollar was able to recover ground despite US economic data and amid risk appetite. Commodities moved off daily highs, but equity prices remained near session tops. The Dow Jones is up 0.40% while the Nasdaq gains 0.35%. 

US: The headline general business conditions index fell six points to -1.0 - NY Fed

Technical levels 

To the upside, resistance levels might be located at 0.6900, 0.6915 (daily high) and 0.6945/50 (May 10 high). On the downside, support could be seen at 0.6870 (May 12 high), 0.6845/50 (daily low) and 0.6825 (May 12 low).