NZD/USD hit 0.7936 on Friday, the pair's lowest since January 17; the pair subsequently consolidated at 0.7953 by close of trade, tumbling 3.24%.
The pair is likely to find support at 0.7908, the low of January 12 and resistance at 0.8018, Friday's high.
The Department of Labor said the U.S. economy added 115,000 jobs in last month, far short of expectations for a 170,000 increase, after adding an upwardly revised 154,000 jobs in March.
The unemployment rate ticked down to 8.1% but the labor participation rate also declined, as fewer people sought jobs.
The weak data added to uncertainty over the strength of the U.S. recovery and fuelled speculation the Federal Reserve could implement a third round of quantitative easing measures to stimulate growth.
Risk appetite was also hit by concerns over political uncertainty in the euro zone, in the run-up to weekend elections in Greece and France, amid fears leadership changes could hinder attempts to resolve the regions debt crisis.
On Thursday, the New Zealand dollar weakened broadly after official data showed that the country's unemployment rate rose unexpectedly in the first quarter, climbing to 6.7%, against expectations for a decline to 6.3%.
In the week ahead, investors will be closely watching election results in Greece and France, while in the U.S. a speech by Fed Chairman Ben Bernanke in Chicago on Thursday the main focus for the greenback.
China is to release a flurry of data, including reports on retail sales and inflation that will allow investors to gauge the strength of the world's second largest economy.
Ahead of the coming week, Forexpros has compiled a list of these and other significant events likely to affect the markets. The guide skips Monday, as there are no relevant events on this day.
Tuesday, May 8
The Reserve Bank of New Zealand is to produce its financial stability report.
Wednesday, May 9
New Zealand is to publish industry data on house price inflation, a leading indicator of the house industry's health.
Later Wednesday, the U.S. is to produce government data on crude oil stockpiles. The country is also to hold a 10-year government bond auction.
Thursday, May 10
The U.S. is to produce official data on the trade balance, as well as government data on unemployment claims and import prices.
Additionally, the U.S. is to release government data on the federal budget balance and the Treasury currency report, while Federal Reserve Chairman Ben Bernanke is due to speak. His comments will be closely watched for any clues to the future possible direction of monetary policy.
Friday, May 11
The U.S. is to round up the week with government data on producer price inflation, a key gauge of consumer inflation, followed by a preliminary report by the University of Michigan on consumer sentiment, a leading indicator of consumer spending.