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The NZD/USD pair attracts some dip-buying during the Asian session on Wednesday and might now be looking to build on the overnight recovery move from levels just below mid-0.5900s, or the YTD low.
The New Zealand Dollar (NZD) edges lower in its most heavily-traded pairs on Wednesday following the trend of the previous weeks as bearish fundamentals, including an overall negative outlook for growth, continue to weigh.
The NZDUSD pair continues to print new lows with the sellers eyeing the 0.5870 support zone. What’s next?
NZD/USD is falling in a bearish three-wave pattern, known as a Measured Move.
NZD/USD extends its gains for the second consecutive session on Monday, edging higher to near 0.5980 during the Asian trading hours.