The Kiwi pair is trying to test the crucial resistance of 0.6560 from the early New York session. A relatively light economic calendar on the NZDUSD front has failed to provide any potential trigger to the antipodean. The asset has recorded a four-day winning streak and is expected to continue further, which looks possible after overstepping Monday’s high at 0.6560.
Wider weakness in the US dollar index is driving the risk-sensitive dominating currencies higher. The DXY has remained vulnerable for the past two weeks as a rebound in the positive market sentiment cut the safe-haven’s appeal.
Looking forward, traders will focus on the US Nonfarm Payrolls (NFP) on Friday. A preliminary estimate for the job’s additions in the nonfarm labor force is 320k in the month of May against the prior print of 428k. This will diminish the US Dollar further as the figure looks significantly lower. Also, the 12-month average of the US NFP has been recorded at 551.6k.
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