FXS: NZD/USD in session lows ahead of unemployment rate
FXstreet.com (Barcelona) - The kiwi dollar has breached the 0.8100 mark as the sell-off in the comm-bloc has intensified after the close of the European session.
The cross has been trading in a consolidation pattern since early March, delimited by 0.8060 and 0.8280 with still unclear bias.
The recent RBA rate cut and the likeliness of a Chinese slowdown have been weighting on the cross, intensified today with the US dollar performance.
Ahead in the day, NZ unemployment rate in the first quarter is due. Market consensus expects the jobless rate to remain unchanged at 6.3%.
At the moment NZD/USD is down 0.76% at 0.8087, facing the next support at 0.8085 followed by 0.8067 then 0.8058 and 0.8040
On the upside, a break above 0.8219 would expose 0.8256 then 0.8315 and 0.8324
