NZD/USD gathers strength to near 0.5995 in Tuesday’s early Asian session, adding 0.35% on the day.
Rebound in New Zealand Dollar (NZD) has scope to test 0.6025 against US Dollar (USD), but a sustained break above this level is unlikely. In the longer run, NZD must break and hold below 0.5940 before further declines are likely, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New Zealand Dollar’s upside attempts were capped at 0.6180 on Thursday, and the pair is extending the reversal on Friday, against a somewhat firmer US Dollar, which brings the 0.6000 support area back into focus.The Greenback is trimming some losses with investors unwinding their USD shorts, after a