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FxWirePro: NZD/USD extends decline, focus on U.S. August jobs data

• NZD/USD extended losses on Wednesday as the greenback strengthened ahead of Friday’s August nonfarm payrolls report.

• Markets await key U.S. August data this week, including ISM services PMI and nonfarm payrolls, to assess the impact of Trump’s policies on industry and jobs.

• The data will give investors and the Fed a clearer view of the labor market, potentially shaping expectations for a rate cut this month.

•Traders are currently pricing in an 87% chance the Fed will ease rates by 25 basis points later this month, according to the CME FedWatch tool.


•  Immediate resistance is located at 0.5896(SMA 20), any close above will push the pair towards 0.5915(38.2%fib).

•  Support is seen at 0.5814(61.8%fib)and break below could take the pair towards 0.5784(Lower BB).

 Recommendation: Good to sell around 0.5860 with stop loss of 0.5920  and target price of 0.5800

  • Market Data
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