New Zealand employment data is coming up and so far there doesn’t appear to be a lot of positioning ahead of the report.
Seeing how the North American session just ended, it is not surprising that NZD/USD has been relatively quiet. The cross is currently trading in the middle of today’s range at 0.8429. Although the cross closed is trading lower, it is still hovering near the top of its resistance area at 0.8459.
A break of this area on better than expected employment data could push the price towards the August highs of 0.8573. On the down side watch for initial support at 0.8339.
