FxWirePro: NZD/USD comatose around 21-EMA, upbeat New Zealand employment data fails to impress

NZD/USD chart - Trading View 

NZD/USD was trading largely unchanged at 0.6045 at around 09:00 GMT.

The pair is extending sideways grind along 21-EMA support, bias is neutral.

Upbeat New Zealand's jobs figures for the first quarter fail to impress kiwi bulls.

Data released earlier today showed NZ Q1 unemployment Rate printed at 4.2%, bettering expectations at 4.3%.

NZD/USD edged slightly higher in the immediate after effect, but failed to sustain gains.

Focus now on U.S. ADP Employment data due later today at 12:15 GMT for direction. 

Technical studies do not show a clear directional bias for now. Bias tilted in support of bears.

Price action is struggling to hold breakout at daily cloud. Decisive breakout above 55-EMA could change near-term dynamics.

On the flipside, the pair is holding support at 21-EMA, breach below will see more weakness.

Support levels - 0.6037 (21-EMA), 0.60 (Kijun Sen), 0.5960 (38.2% Fib)

Resistance levels - 0.6099 (55-EMA), 0.6145 (Upper BB), 0.6214 (110-EMA)