The NZD/USD pair posts a fresh monthly low near 0.6076 in Wednesday’s New York session.
NZD/USD refreshes monthly low near 0.6076 as the Fed ’s hawkish remarks strengthen theUS Dollar’s appeal. Fed Bowman sees interest rates remaining steady for the entire year. A Double Top breakdown weakens the New Zealand Dollar. The Kiwi asset faces intense selling pressure after breaking below the crucial support of 0.6100. The pair weakens as the US Dollar strengthens due to the Fed eral Reserve’s hawkish remarks on the interest rate outlook.
Should the bearish momentum trigger the oscillator established below the same? Investors would use a pullback move to near 0.6100 as a selling opportunity for targets near April 4 high around 0.6050 and the psychological support of 0.6000. On the contrary, a reversal move above June 12 high of 0.6222, which will expose the asset January 15 high near 0.6250, followed by January 12 high near 0.6280.
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