- NZD/USD hit a three-month high, crossing the 0.6200 mark, but strong United States bond yields are causing a setback.
- If the pair falls below 0.6100, there is a possibility of more downside, with the 200-DMA in sight.
- To pave the way for 0.6300, buyers are keeping the NZD/USD exchange rate above 0.6200.
NZD/USD retreats late in the Monday North American session after rallying to a brand-new four-month high of 0.6226, but a repricing for a less dovish United States Federal Reserve saw a dive in United States bond yields. The pair toppled more than 0.80% and trades at 0.6154.
The NZD/USD uptrend stays undamaged, though it undergoes a pullback. If the pair moves past the 0.6150 figure, the next support would be the November 30 swing low at 0.6120. Up next the 200-day moving average (DMA) at 0.6089. A breach of the latter and the set might move neutral if it plunges below the October 11 high turned support at 0.6055.
On the other hand, if NZD/USD buyers recover 0.6200, further upside is seen above 0.6226, followed by a test of the July 27 high at 0.6273. If those two supply zones are eliminated, a dive to 0.6300 is on the cards.
NZD/USD Technical Levels
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