NZD/USD is back below the 0.72 mark, retraces most of Tuesday's gains.
Weak Chinese services PMI data weighed on commodities and denting demand for commodity-linked currencies.
Upside in the pair capped at 78.6% Fib at 0.7245, intraday bias lower.
Downside finds support at 0.7182 (61.8% Fib), break below could see test of 20-DMA at 0.7141.
US ADP report on private sector employment and ISM non-manufacturing PMI data, later during NA trading session in focus.
Good to go short on break below 0.7182, TP: 0.7140/ 0.7115
Weak Chinese services PMI data weighed on commodities and denting demand for commodity-linked currencies.
Upside in the pair capped at 78.6% Fib at 0.7245, intraday bias lower.
Downside finds support at 0.7182 (61.8% Fib), break below could see test of 20-DMA at 0.7141.
US ADP report on private sector employment and ISM non-manufacturing PMI data, later during NA trading session in focus.
Good to go short on break below 0.7182, TP: 0.7140/ 0.7115