FxWirePro: NZD/USD shrugs-off upbeat jobs data, slips below 0.69 handle, good to sell rallies

• NZD/USD reversed early spike on the back of upbeat NZ jobs data, and has slipped below the 0.79 handle.
   
• Data released earlier today showed New Zealand economy added 38,000 jobs in the March quarter, the largest increase in 12 years.
   
• The Kiwi spiked to hit 0.6940, but quickly revesed upside as broadbased rebound in the greenback overshadowed stronger than expected NZ employment change numbers.
   
• Renewed optimism towards the US dollar combined with falling dairy prices also weighed down on the NZD/USD pair. 
   
• Prices fell 1.4% in the latest Global Dairy Trade (GDT) auction following a 3.8% gain previously. 
   
• NZD/USD trades with a downside bias for the day, with immediate resistance at 0.69 and support at 0.6836 (Apr 25th lows).
   
• Focus now shifts towards the US employment data due later today ahead of the Chinese Caixin Services PMI due for release tomorrow.
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Recommendation: Good to sell rallies around 0.6890/0.69, SL: 0.6950, TP: 0.6840/0.68