The NZD/USD pair discovered buying interest near an 11-month low at 0.5770 and climbed above the round-level resistance of 0.5800. The Kiwi asset gain
NZD/USD aims for stabilization above 0.5800 as the market sentiment improves. The 10-year US Treasury yields rebounded to 4.87% ahead of core PCE inflation data. NZD/USD delivers a V-shape recovery after a selling climax near 0.5772. s strength as the market sentiment improves on expectations that the Federal Reserve is done with hiking interest rates. S&P500 futures generated significant gains in the European session, portraying a risk-on market mood.
The major aims for stabilization above the 50-period Exponential Moving Average , which trades around 0.5820. The Relative Strength Index shifts into the 40.00-60.00 range from the bearish range of 20.00-40.000, which indicates that the bearish bias is fading away. A decisive break above October 24 high at 0.5874 would drive the asset toward October 18 high at 0.5921 and September 25 high at 0.5975. On the flip side, a downside move below 11-month low at 0.
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