Forex: NZD/USD reverses gains; set to close week down 100 pips

FXstreet.com (San Francisco) - The NZDUSD pair has reversed early gains this afternoon, with the New Zealand dollar poised to end weaker against the U.S. dollar Friday as market participants buy dollars ahead of the weekend and as the US unemployment -fueled risk rally fades.

Price is now quoted just a few pips below the 0.8200 figure after testing offers through 0.8263. The 23.6% and 38.2% Fibonacci retracement levels of the 0.7912/0.8355 advance seems to contain price for the time being. NZDUSD trades at 0.8185 vs. 0.8285 last Friday.