NZD/USD removal of the China PMI-induced losses to the 100-day MA

FXStreet The NZD/USD was up from the days low some Pips from the days low to recover, and so the trade with a small loss to 0,7075.

The Pair extended its sharp reversal from 3-month high and it fell in the vicinity of the immediate support around the 100-day SMA. Today’s weaker manufacturing data in China weigh on the commodity currencies such as the Kiwi. The Caixin PMI manufacturing fell to 11-month low of 49.6.

Add to that the slight increase in buying interest compared to the US Dollar, while US Treasury bond yields to recover properly.

Next, expect us, the ADP labour market report and the weekly unemployment and the ISM manufacturing PMI from the USA , which are short-term oriented traders with a pulse. The focus of investors is on the monthly US labour market data on Friday.

Important Levels

Resistances lie at 0,7095, the 200-day SMA of 0,7105-10 and 0,7155-60. On the other hand, supports are located at the 100-day SMA of 0,7060-55, 0,7025 and 0.70.

** FXStreet News Editorial, FXStreet**

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