FxWirePro: NZD/USD recovers from overnight lows at 0.6490, trades above 0.65 barrier
Kiwi climbed higher above the 0.65 barrier as traders resorted to profit-taking after the NZD fell to fresh six-year lows on Wednesday Disappointment in NZ employment data and stronger greenback continue to weigh NZ part…
Kiwi climbed higher above the 0.65 barrier as traders resorted to profit-taking after the NZD fell to fresh six-year lows on Wednesday
Disappointment in NZ employment data and stronger greenback continue to weigh
NZ participation rate came in lower than expected at 69.3% (69.6% consensus) and employment change also missed at 0.3% (0.5% consensus)
NZD/USD is currently trading at 0.6546, up from overnight lows at 0.6490, USD a tad soft on Fed Powell's comments and ADP data miss
Immediate resistance is seen at 0.6557 (4h 20MA), while supports on the downside are located at 0.6527 (4h Tenkan-sen) and then at 0.6521 (session low Aug 6)
