NZD/USD recovered some of Thursday’s losses due to a mixed US NFP report, steady at around 0.6770s By christianborjon NZDUSD Majors NFP Employment Technical Analysis
US Nonfarm Payrolls headline misses expectations wages rosereport, which was mixed. The headline showed that the US economy added “just” 199K employments in December, 201K short than the 400K estimated by analysts.
Nevertheless, the Unemployment Rate -Fed’s gauge of labor market conditions- dropped 0.2%, from 4.1% to 3.9%, a level was last seen in February 2020, before the pandemic hit the US. Furthermore, Average Hourly Earnings for December grew 4.7% annually based, 0.5% higher than estimations, further cementing the Federal Reserve stance.The NZD/USD seesawed around Thursday’s lows and the daily pivot, in the 0.
The NZD/USD first support is the January 6 daily low at 0.6733. The latter’s breach would expose the psychological 0.6700 level, followed by a 2021 yearly low at 0.6701.
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