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NZD/USD in Corrective Mode

The New Zealand dollar dips as the Q4 unemployment rate disappoints. The pair has been grinding the recent of 0.6530 without success and a break below 0.6440 may prompt some bulls to look for the exit. As the kiwi strives to maintain its lead after clearing 0.6500 on the daily chart, 0.6360 over the 30-day moving average is a key level to expected follow-up interest. The support-turned-resistance at 0.6480 is the first barrier to lift before the uptrend could resume. Otherwise, the gate would be open for a drop below 0.6300.

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