- Kiwi dumped on the NZ jobs data, NZD/USD slips 0.30% on the day, trades at 0.6796 at the time of writing.
- Data released by Statistics New Zealand showed that the unemployment rate lifted to 4.5 percent in the three months ended June 30 from 4.4 percent in March.
- Meanwhile, private sector wage inflation rose 0.6 percent in the quarter for a 2.1 percent annual increase, in line with expectations.
- Also, downbeat Chinese Caixin manufacturing PMI suggested to a slowdown in the Chinese economy further denting the antipodeans.
- On the otherside, dollar was buoyed on the strong Conference Board Consumer Confidence which arrived at 127.4 vs 126.0.
- Price has formed a doji on Tuesday's candle and has broken below 21-EMA support at 06807.
- Recovery attempts have been capped at hourly cloud. Price has broken below 1H 200 SMA.
- Scope for test of 61.8% Fib at 0.6766. Break below to see further weakness. Dip till 0.6687 then likely.
Support levels - 0.6762 (nearly convergEd 61.8% Fib and July 27 low), 0.6743 (78.6% Fib), 0.6687 (July 3 low)
Resistance levels - 0.68 (nearly converged 5-DMA, 1H 200-SMA and 21-EMA), 0.6869 (50-DMA), 0.69
FxWirePro Currency Strength Index: FxWirePro's Hourly NZD Spot Index was at -49.4514 (Neutral), while Hourly USD Spot Index was at 18.3027 (Neutral) at 0600 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
