FxWirePro: NZD/USD ticks Up on softer dollar, U.S. jobs data in focus

• NZD/USD edged higher on Monday as weakness in the U.S. dollar persisted ahead of a busy week of labor market data releases.

• Investors are turning their attention to Friday’s closely watched U.S. nonfarm payrolls report, which is expected to provide critical insights into the strength of the labor market and help shape expectations for the Federal Reserve’s next policy move.

•Ahead of the release, markets will analyze job openings data from the JOLTS survey and private payrolls figures from ADP, both of which are likely to offer early signals on hiring momentum and overall employment trends.

•Traders are currently pricing in an 87% chance the Fed will ease rates by 25 basis points later this month, according to the CME FedWatch tool.

•On the trade front, U.S. Trade Representative Jamieson Greer said on Sunday the Trump administration is continuing its talks with trading partners despite a U.S. appeals court ruling that most of Trump's tariffs are illegal.

•  Immediate resistance is located at 0.5911(50%fib), any close above will push the pair towards 0.6006(38.2%fib).

•  Support is seen at 0.5817(61.8%fib)and break below could take the pair towards 0.5790(Lower BB).

 Recommendation: Good to sell around 0.5900 with stop loss of 0.5980  and target price of 0.5840