The NZD/USD pair reverses an intraday dip to levels just below the 0.6000 psychological mark and turns neutral during the first half of the European s
NZD/USD attracts some dip-buying on Tuesday, albeit lacks follow-through. A positive risk tone lends some support; resurgent USD demand caps gains. The technical setup supports prospects for a break through the 100-day SMA. ession. Spot prices currently trade around the 0.6020 area, unchanged for the day, and just below a nearly two-week high touched earlier this Tuesday.
With oscillators on the daily chart gaining positive traction, the NZD/USD pair might then aim towards reclaiming the 0.6100 mark and extend the momentum to the 0.6125-0.6130 region, or the 50% Fibo. On the flip side, weakness below the 0.6000 mark is likely to find some support near the 23.6% Fibo. level, around the 0.5980-0.5975 region. A convincing break below could drag the NZD/USD pair back to the 0.5900 mark en route to last week's swing low, around the 0.
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