FX Watch: NZD/USD Trend Opportunity Ahead of US ISM Manufacturing PMI

NZD/USD is having trouble extending the decline as it has reached a potential support area! Profit-taking after last week’s extended moves could have dragged NZD/USD down from its highs of .6375. It didn’t help that this JPow wasn’t as dovish as markets expected, only seeing another 50bp interest rate cut for the rest of the year. Finally, China is on an extended holiday, which could have limited any bullish demand in the Asian session. But the upcoming Uncle Sam ISM Manufacturing PMI may make or break NZD/USD’s recent decline.