NZD/USD stuck in tight range around 0.7150 ahead of US NFP

• DXY staged a solid comeback.
• Oil-price correction weighs.
• Awaits range-break out on US NFP?

The NZD/USD pair is seen fluctuating between gains and losses so far this Friday, unable to find a clear direction, as investors await the key US employment data for fresh trading impetus.

NZD/USD supported above at 200-DMA at 0.7140

The Kiwi hit a fresh three-month high at 0.7165 in early Asia this Friday and from there has entered a phase of upside consolidation, as markets turn cautious and refrain from placing any directional bet on the prices ahead of the much-awaited US payrolls data.

However, the downside remains cushioned amid a better risk sentiment, reflected by higher European equities, and better Chinese services PMI data. On the other hand, the bulls lack vigor amid broad-based US dollar rebound and falling oil prices, which weighs down on the resource-linked NZD.

Attention now turns towards the US employment data, with markets expecting the US economy to add 190k jobs in December.

NZD/USD Technicals

The pair finds next resistances at 0.7165 (3-month tops), at 0.7200 (natural resistance), 0.7222 (classic R2/ Fib R3). Meanwhile, the supports are located at 0.7140 (200-DMA), 0.7122 (5-DMA) and 0.7091 (10-DMA).