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NZD/USD PRICE ANALYSIS: BEARS ARE BACK IN CONTROL, TESTING ​​KEY SUPPORT AT 0.5870

ia7145
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  • Kiwi sellers return to test year-to-date lows at 0.5970-60.
  • The sour market mood is weighing on the risk-0sensitive NZD.
  • Below 1.5960, the next bearish target is the 2023 low, at 0.5770.


Kiwi’s feeble recovery attempt seen on Friday has been short-lived, and the has resumed its bearish trend on Monday. Sellers showed up at 0.5900 to send the pair towards the 0.5870-60 support area, which is being tested at the moment.

The US Dollar is firming up across the board with geopolitical concerns weighing investors' mood. This will keep the risk-sensitive Kiwi on the defensive.


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