NZD/USD extends its downside below the mid-0.5900
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The uptrend in the 4-hour chart has been broken with a breakout at the price of 0.593.
As a result, the NZD/USD exchange rate continues to face selling pressure below the 0.5900 level after dropping to hold above 0.6000 in the early hours of Asian trading on Tuesday. The recovery of the US Dollar (USD) and higher interest rates at the US Treasury have weighed on NZDUSD. Currently, this currency pair is trading around 0.589, down 0.9% for the day.
The uptrend in the 4-hour chart has been broken with a breakout at the price of 0.593.
As a result, the NZD/USD exchange rate continues to face selling pressure below the 0.5900 level after dropping to hold above 0.6000 in the early hours of Asian trading on Tuesday. The recovery of the US Dollar (USD) and higher interest rates at the US Treasury have weighed on NZDUSD. Currently, this currency pair is trading around 0.589, down 0.9% for the day.
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