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The NZD/USD pair has been trading in negative territory for two consecutive days during the Asian trading session on Wednesday. The appreciation of this currency pair is supported by a stronger US dollar (USD) and risk aversion sentiment. Currently, this currency pair is trading near 0.5932, down 0.20% for the day.
On the other hand, Hawkish stance from the Federal Reserve (Fed) has boosted USD against the New Zealand dollar (NZD) and acted as a resistance level for the NZD/USD pair.
In my opinion, there is a possibility of a slight downward correction in the near future, with exchange rate breaking below the trend line and declining to support level at 0.588.
The NZD/USD pair has been trading in negative territory for two consecutive days during the Asian trading session on Wednesday. The appreciation of this currency pair is supported by a stronger US dollar (USD) and risk aversion sentiment. Currently, this currency pair is trading near 0.5932, down 0.20% for the day.
On the other hand, Hawkish stance from the Federal Reserve (Fed) has boosted USD against the New Zealand dollar (NZD) and acted as a resistance level for the NZD/USD pair.
In my opinion, there is a possibility of a slight downward correction in the near future, with exchange rate breaking below the trend line and declining to support level at 0.588.
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