NZD/USD: More range-trading ahead of NFP on Friday – ANZ

The kiwi has softened further. Amid a quiet data schedule, NZD/USD is on track for more range-trading ahead of US Nonfarm Payrolls data on Friday, economists at ANZ Bank appraise.

NZD/USD fuelled mostly by the ebb and flow of broad USD sentiment

“There was no US data but the Fed’s Beige Book was released, the general tone of which was moderate, giving the USD few pointers.”

“Commodity prices were stable, offering no real direction – but this is of course one of key pillars of support for the NZD.” 

“With markets eagerly awaiting US Nonfarm Payrolls data on Friday (and CPI next week), more range-trading beckons until a new catalyst comes along.”

“Support 0.7100/0.7200 Resistance 0.7320/0.7465”