NZD/USD: technical view
On Thursday volatility in NZD/USD was quite high: the pair was swinging in the $0.8100/0.7900 range and has closed in a positive territory at $0.8000. We see that the bulls, inspired by the ECB, tried to reverse the pair to the upside, but didn’t have enough strength. On Friday kiwi is trading in the red again around $0.7950.
In a medium term the pair remains vulnerable for further losses, but we won’t risk entering the current sideways market. A break below or above the yesterday’s $0.8100/0.7900 range will give a sign for further direction.
As for the market data, watch the US NFP at 12:30 GMT. Worse-than-expected figure would support NZD/USD. Over the weekend pay attention to a bunch of Chinese data.
Chart. Daily NZD/USD