NZD/USD is contesting a break of the 200-day moving average
Buyers are looking poised on the new day as the kiwi searches for yet another move higher against the dollar to wrap up the week.
Price is testing the highs around 0.6560 currently as buyers keep above the 200-day MA (blue line) but is encountering resistance from the 61.8 retracement level @ 0.6567.
There's talk of stops just above 0.6570 so just be wary that if we do see price action start to break higher, it could see the pair get a jolt to the upside towards 0.6600 and potentially higher in the coming sessions.
Right now, currencies are keeping tepid amid the wait for the US non-farm payrolls report. Looking ahead, pay attention to the key resistance levels above in gauging price action in the pair for trading today.
The risk for buyers at this point will be if price starts to retrace back under the 200-day MA @ 0.6542 and keep below that ahead of the weekend.
