FX News

NZD/USD Transfer

The New Zealand Dollar (NZD) rose over 2.5% last week against the US Dollar (USD) clocking 0.6000 as the greenback was heavily sold post US employment data publishing. The number of new people entering the workforce shrank with just 150,000 instead of 178,000 expected and the unemployment rate rose from 3.8% to 3.9%. As we suggested we got plenty of NZD upside ending the week as punters exited the USD, however the cross has stalled in the run up to 0.6000 eased back to 0.5960 into early Tuesday. NZ Inflation expectations print tomorrow but for now we eye today’s Melbourne Cup.

Current Level: 0.5960
Resistance: 0.6040
Support: 0.5800
Last Weeks Range: 0.5787 – 0.6000

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