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The NZD/USD pair printed a fresh five-day low marginally below 0.5900 as Federal Reserve (Fed) Chair Jerome Powell supported for raising interest rates further.
NZD/USD continues the losing streak for the fifth successive day, trading around the 14-day Exponential Moving Average (EMA) at 0.5898 during the European trading hours on Friday, lined up with the immediate resistance at 0.5900.
The NZDUSD pair erased most of the gains from last week as the US Dollar is starting to be seen as the best out of a bad bunch. What’s next?
The New Zealand Dollar (NZD) weakens across the board on Friday as concerns about global growth continue to fester following a run of weak data from China, New Zealand’s biggest trading partner.
NZD/USD trades higher near 0.5930 during the Asian session on Thursday, rebounding from the weekly lows as the US Dollar took a breather.