NZD/USD chart - Trading View
NZD/USD is extending previous session's gains, trades 0.63% higher at 0.6124 at around 07:15 GMT.
Risk-reset lifts the Kiwi as trade representatives from U.S. and China held a phone call to discuss the implementation of the Phase One agreement.
Markets gear up for the crucial U.S. Non-Farm Payrolls data after markets shrug off a surge in jobless claims.
April's employment report is likely to show a loss of some 22 million jobs, with the unemployment rate reaching Great Depression levels.
Risk-reset across market along with a subdued dollar is likely to drive further gains in the pair.
Technical studies are turning slightly bullish. Price action has retraced above daily cloud and broken above 55-EMA.
RSI is now above 50 and biased higher, stocks are turning and volatility is rising as evidenced by widening Bollinger bands.
Scope for upside. Next hurdle on the upside lies at 110-EMA at 0.6210. Break above could see test of 200-DMA.
Supports for the pair align at 55-EMA at 0.6098 ahead of 21-EMA at 0.6046 and 38.2% Fib at 0.5960.
