New Zealand Dollar plunges to two-month lows after upbeat US NFP report

US Nonfarm Payrolls increased by 172K in May, beating expectations of 85K.
The Unemployment Rate held at 4.3%, while wage growth eased to 3.4%.
The New Zealand Dollar hit its lowest level since April 8.

Agustin Wazne FXStreet

NZD/USD falls sharply towards the 0.5790 region on Friday as the US Dollar (USD) strengthened following a stronger-than-expected Nonfarm Payrolls (NFP) report, while the New Zealand Dollar (NZD) struggled to attract buyers amid a cautious market mood. At the time of writing, the pair trades at 0.5791, its lowest level in the last two months.

The Bureau of Labor Statistics reported that the United States (US) economy added 172K jobs in May, significantly above market expectations of 85K and following an upwardly revised gain of 179K in April.

Meanwhile, the Unemployment Rate held steady at 4.3%, while annual wage growth eased to 3.4% from 3.6%. The data reinforced the view that the labor market remains resilient and puts pressure on the Federal Reserve (Fed) to keep interest rates higher-for-longer or even raise them, supporting the Greenback.

Next week, markets will closely watch the US Consumer Price Index (CPI) report and labor data, while New Zealand will release the Business NZ Performance of Manufacturing Index (PMI).

Short-term technical analysis:

On the 4-hour chart, NZD/USD trades at 0.5793, extending its downside bias as price remains below both the 20-period Simple Moving Average (SMA) at 0.5871 and the 100-period SMA at 0.5882. This configuration reinforces a bearish near-term tone, even as the Relative Strength Index (RSI) slips into oversold territory near 23, hinting that while sellers remain in control, the downside could become more vulnerable to corrective rebounds.

On the topside, initial resistance is located at 0.5802, followed by a tighter cap at 0.5813 and then 0.5843, where prior horizontal levels may attract renewed supply. Above these, the 20-period SMA at 0.5871 and the 100-period SMA at 0.5882 add to a broader resistance band that would need to be reclaimed to ease bearish pressure. On the downside, immediate support emerges at 0.5790; a decisive break lower would expose fresh lows and keep the bears firmly in charge.

(The technical analysis of this story was written with the help of an AI tool.)

Author

Agustin Wazne

FXStreet

Agustin Wazne joined FXStreet as a Junior News Editor, focusing on Commodities and covering Majors.

AUD/USD falls to near 0.7100 after slipping below 50-day EMA

AUD/USD depreciates after registering minor gains in the previous day, trading around 0.7120 during the Asian hours. The technical analysis of the daily chart shows the pair consolidating sideways within a rectangle pattern, as neither bulls nor bears gain control. The AUD/USD pair is holding a slight bearish tone however as it sits beneath both the nine-day and 50-day EMAs.

160.00: USD/JPY back near intervention territory after upbeat US jobs report

US Nonfarm Payrolls beat expectations by a wide margin in May, with 172K jobs added. The US Dollar rebounds after the release, helping USD/JPY recover from its intraday lows. Warnings from Japanese authorities continue to limit upside potential near the 160.00 threshold.

Gold targets $4,300 amid stronger Dollar

Gold faces increasing selling interest and navigates the area of three-month lows near the $4,300 mark per troy ounce on Friday. The precious metal’s decline comes as traders assess the stronger-than-expected NFP, while the bid bias in the Greenback and higher US Treasury yields also collaborate with the retracement.

Cardano hits five-year low even as Hoskinson clarifies "break" isn't an exit

Cardano (ADA) price is down 10% at press time on Friday, extending losses over 30% so far this week amid Charles Hoskinson's clarification that "break" isn't an exit.

Week ahead – Fed countdown begins amid US inflation data and geopolitical risks

Fed Chair Warsh’s first meeting approaches as key US inflation data could reshape expectations. Oil prices remain elevated as US-Iran talks continue; tariffs also return to the spotlight. ECB is expected to hike; will it be a one-off move or is July live?

The US economy defies the rules: 100 days into the Oil shock and the recession signal is still missing

More than three months after the start of the Iran war and the resulting disruption to global energy markets, the US economy continues to display remarkable resilience. The conflict has triggered a sharp rise in Oil prices, reignited inflationary pressures and fueled widespread concerns about a potential economic slowdown.