US Non-Farm Payroll came in light Friday sending the New Zealand Dollar (NZD) lower to 0.5700 against the US Dollar (USD). Monday’s action saw the kiwi claw back loses to 0.5740 but was unable to hold this area as US equities markets plummeted. The Nasdaq is down 3.65% this morning as uncertainty around the US economic outlook starts to filter into price action. Fed’s Powell remarked Friday that the central bank sees no urgent need to change policy, this may all be about to change with the aimless on- again- off- again tariff policy. All eyes will be on US CPI Thursday morning.
Current Level: 0.5691
Support: 0.5570
Resistance: 0.5760
Last week’s range: 0.5575 – 0.5758