NZD/USD Declines as US Dollar Recovers

The NZD/USD pair has experienced a decline, with the US Dollar gaining strength. The market’s focus is now on the upcoming release of the US PCE inflation data, which could provide insights into the Federal Reserve’s monetary policy outlook.

The New Zealand Dollar has faced pressure from the stronger US Dollar and uncertainty regarding the RBNZ’s monetary policy stance. While the RBNZ recently pivoted to a more neutral stance, there remains a possibility of further rate cuts.

NZD/USD Technical Outlook

The NZD/USD pair has broken below a key support level, indicating a potential for further declines. The pair is currently trading near the 0.6200 level, with the 0.6150 level acting as potential support.

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