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NZD/USD keeps weak tone, lowest since Feb 26

FXStreet (Bali) - NZD/USD continues to trade at depressed 6-month lows, as the broad-based USD strength overwhelms brave bottom pickers.

Jim Langlands, Founder at FXCharts, notes: "The NFP is the upcoming focus, and should the results be in line with, or above estimates, then the Kiwi will resume its decline, below 0.8300, targeting 0.8275(50% Fib of 0.7670-0.8839) and then the base of the wedge, 20 Feb low at 0.8242."

If the NFP is below par, Jim adds: "Expect another spike to 0.8350, above which could see a run towards strong resistance at 0.8400. A break of the 28 August high at 0.8407 would see stops triggered and would be likely to take the Kiwi a bit higher although I cannot see this happening today."

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