The NZD/USD pair remained oscillating in a narrow range, staying near the 2-week lows. Disappointing NZ employment figures further soured the sentiment overnight as it fueled the speculation of further rate cuts.
Meanwhile, annual wage growth saw increase to 2% as compared to 1.9% for the previous quarter but it could not lend support to the Kiwi.
On the other hand, the demand of Greenback surged across the board that sent the NZD/USD below 0.6750, marking fresh lows since January 25.
Now the bearish pressures looks thinning for the time being and the market may retrace the downtick move.
Technical Levels to Watch
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