NZD/USD PRICE ANALYSIS: BEARS ARE BACK IN CONTROL, TESTING KEY SUPPORT AT 0.5870... dari ia7145

30 Jul 2024, 20:35 · Views 181

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

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