FXStreet (Miami) – US Dollar received an overhaul on Friday after the United States reported strong non farm payrolls and labor market numbers for May. In this framework, the NZD/USD collapsed 130 pips from 0.7155 to price at its lowest levels since September 2010 at 0.7025.
As FXStreet editor Pablo Piovano previously reported, the US Dollar index DXY climbed to tops near 96.70 after Non farm payrolls. “In the meantime, the index keeps trimming the recent drop from the 97.70 area, extending the bounce off yesterday’s troughs around the 94.70 area.”
Currently, NZD/USD is trading at 0.7034, down 1.34% on the day, having posted a daily high at 0.7156 and low at 0.7024. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.
NZD/USD forecast and levels
If the pair manages to extend bounce beyond 0.7025, it will find supports at 0.7000 and 0.6980. To the upside, resistances are at 0.7065, 0.7100 and 0.7140.
(Market News Provided by FXstreet)