FxWirePro: NZD/USD snaps three-day winning streak as US dollar recovers

• NZD/USD snapped   three-day winning streak on Tuesday  as  greenback firmed as traders returned from the Labor Day holiday.

• Markets await key U.S. August data this week, including ISM manufacturing, services PMIs, and non-farm payrolls, to gauge the impact of Trump’s policies on industry and jobs..

•Markets will also watch JOLTS job openings and ADP private payrolls for early signs of hiring momentum and employment trends.

•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.

•Meanwhile, New Zealand’s Q2 data showed exports slumped while imports jumped, weighing on GDP, with past import-driven consumer spending also revised lower.

•  Immediate resistance is located at 0.5911(50%fib), any close above will push the pair towards 0.6006(38.2%fib).

•  Support is seen at 0.5817(61.8%fib)and break below could take the pair towards 0.5790(Lower BB).

 Recommendation: Good to sell around 0.5900 with stop loss of 0.5980  and target price of 0.5840