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The New Zealand Business Confidence fell 25% QoQ in the first quarter (Q1) of 2024 from a 2% decline in the Q4 of 2023, the Quarterly Survey of Business Opinion (QSBO) from the New Zealand Institute of Economic Research (NZIER) showed on Tuesday.
The NZD/USD pair trades on a softer note near 0.6012 on Friday amid the firmer US Dollar (USD).
The NZD/USD was trading around the 0.6000 zone during Wednesday's session, reflecting an increase of 0.55%.
NZD/USD has been broadly falling in a bearish three-wave pattern, known as a Measured Move but intraday charts are now signaling that the short-term trend has probably reversed.
NZD/USD continues its upward momentum for the third consecutive day, reaching near 0.6020 during the Asian session on Thursday.