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On Friday, the NZD/USD rallied, driven by the US Dollar facing notable selling pressure after the release of the soft labour market, which triggered a decline in US Treasury yields and hawkish bets on the Federal Reserve (Fed) for the December meeting.
The NZD/USD is churning near 0.5870, looking for further upside as the US Dollar (USD) recedes across the broader market, giving the Kiwi (NZD) a leg up the charts heading into the Thursday market session.
NZD/USD trims most of its intraday losses but still trades in the negative trajectory, bidding around 0.
The NZD/USD pair remains under some selling pressure for the second straight day on Wednesday and slips below the 0.
The NZD/USD saw mild declines on Tuesday as broad-market sentiment tips in favor of the US Dollar (USD), taking the Kiwi (NZD) down from opening bids near 0.