NZD/USD early bids target 4hr 20 sma

NZD/USD is settled as we move along the Friday early session in Asia, consolidating the recent downtrend where lows of 0.7610 were scored overnight.

The U.S. session was mixed with oil rallying to $49bbls with markets taking a step back in respect to the dollar, digesting yesterday's FOMC minutes.

FOMC minutes: full review - Nomura

While their message is clear, perhaps markets were too quick to conclude that June is on the cards while it is in fact data that is going to be key over the next few weeks and given that we just had a dismal nonfarm payrolls after the April meeting, that also should be taken into account.

FOMC minutes were pretty clear - Scotiabank

Earlier, the US data offered the weekly unemployment claims that came in at 278K and above expectations, however, below previous of 294K. Next up are Existing home sales: "It appears that some snowstorms in January delayed home closings—as existing home sales are counted at contract closings—leading to a drop-off in sales in February", explained analysts at Nomura.

U.S. home sales preview - Nomura

NZD/USD is up to the 50 sma on the 1hr sticks with bids in early Asia from recent lows of 0.6736. The 4hr 20 sma is located at at 0.6776 while the upside, the 50 dma stands at 0.6829 as putting the bird back into the rising channel. Price is moving away from the 10th May lows at 0.6716 and the 100 dma, but the 200 dma stands at 0.6644 as a key target in a continuation of the downside ahead of 0.6580 key support.