Chart - Courtesy Trading View
NZD/USD was trading 0.62% lower on the day at 0.6189 at around 12:10 GMT.
The pair has retraced break above 21-EMA after 'Inverted Hammer' formation on the previous session's candle.
Kiwi remains depressed after data released earlier on Thursday showed New Zealand trade deficit widened in June.
New Zealand Trade Balance fell to $10.51B YoY from $9.56B (revised) prior, whereas the monthly figures also marked a deficit of $701 million versus the $195M previous surplus.
Details of the report showed a reduction in Exports to $6.42B from $6.87B prior while Imports improved to $7.12B versus 6.68B prior.
Also, the fresh risk-off market sentiment and a lack of major data/events at home added to the pair's weakness.
Major trend in the pair is bearish and upside seems to have failed to extend break above 21-EMA.
Price action hovers around 5-DMA support at 0.6190. Close below will see more downside. Dip till 0.61 likely.


FxWirePro: EUR/AUD uptrend loses steam, remains on bullish path
FxWirePro- Woodies Pivot(Major)
FxWirePro: EUR/AUD trends higher, but faces potential pitfalls
FxWirePro: USD/JPY dips as yen strengthens ahead of BOJ policy meeting
NZDJPY: Bearish Bias Persists — Sell Rallies Near 90 Targeting 88
FxWirePro: GBP/USD gains as UK manufacturing PMI beats expectations
USD Loses Shine: Soft Labor Market and Stalling Consumer Spending Drag USDCHF Lower
FxWirePro: GBP/NZD firms as RBNZ pushes back on rate hike prospects
FxWirePro: EUR/CAD gaining momentum for a move towards 1.6250 level
UK Economy Accelerates, But GBP/JPY Stays Capped – Sell Toward 206
FxWirePro: GBP/AUD maintains bullish bias with focus on 2.0300 level
FxWirePro: NZD/USD sidelined ahead Of key New Zealand GDP and US inflation update
Yen Power Play: AUDJPY Crumbles Below 103.70 Resistance
FxWirePro- Major Crypto levels and bias summary
FxWirePro:USD/JPY neutral in the near-term, scope for downward resumption
FxWirePro: NZD/USD downside pressure builds, key support level in focus 



