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8 May 2015
NZD/USD moves off monthly lows after US employment data
FXStreet (Córdoba) - The US dollar weakened across the board in the aftermath of the US nonfarm payrolls report, and sent NZD/USD to fresh daily highs.
Data showed US economy added 223K new jobs in April, just below the 224K expected while the unemployment rate edged down to 5.4%. However, the bounce in hiring was offset by the nasty revision for March figure, which was cut down to 85K from 126K previously estimated.
NZD/USD bounced from a 1-month low and spiked to daily high of 0.7482 in recent dealings. At time of writing, the pair is trading at 0.7470, recording a 0.33% gain on the day.
NZD/USD levels to watch
In terms of technical levels, immediate resistances are seen at 0.7495 (100-hour SMA) and 0.7528 (May 7 high). On the flip side, supports are seen at 0.7421 (daily low) and 0.7400 (psychological level).
Data showed US economy added 223K new jobs in April, just below the 224K expected while the unemployment rate edged down to 5.4%. However, the bounce in hiring was offset by the nasty revision for March figure, which was cut down to 85K from 126K previously estimated.
NZD/USD bounced from a 1-month low and spiked to daily high of 0.7482 in recent dealings. At time of writing, the pair is trading at 0.7470, recording a 0.33% gain on the day.
NZD/USD levels to watch
In terms of technical levels, immediate resistances are seen at 0.7495 (100-hour SMA) and 0.7528 (May 7 high). On the flip side, supports are seen at 0.7421 (daily low) and 0.7400 (psychological level).