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Apr 04 - 01:55 PM

NZD/USD - Rebound Eyes Several Hurdles Ahead Of NFP

By Justin Mcqueen  —  Apr 04 - 11:45 AM
  • Dollar downside has dominated price action across FX ahead of NFP

  • NZD/USD now back up to resistance (prior support) at 0.6040-45

  • Unlike other major FX pairs. Kiwi has not breached any key MAs

  • 200-DMA ahead at 0.6069, followed by 55-DMA at 0.6096

  • As such, there are several levels that shorts can lean into

  • That said, this will be contingent on the NFP outcome

  • Should NFP disappoint, NZD will likely move back into a 0.61-0.62 range

  • While a beat would push NZD back through 0.60

  • RBNZ due next week. Similar message expected given lack of data since Feb

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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