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NZD/USD rises to 0.7700

FXStreet (Córdoba) - The kiwi recovered ground during the European session and erased losses against the US dollar ahead of the US employment report. NZD/USD bottomed on Asian hours at 0.7659, the lowest price in two years and then rebounded.

Currently the pair is hovering around 0.7700, slightly higher for the day and moving with bullish momentum. Recently printed a fresh daily high at 0.7703.

NZD/USD outlook

The trend remains bearsih and the pair is still under pressure, trading near the lowest level since June 2012. In the short term, with the NFP report near, the pair managed to turner to the upside. Technical indicators favor the kiwi for the coming hours but employment numbers from the US are likely to increase volatility in the forex and define the next move.

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