NZDUSD Chart Technical Outlook to consolidate ahead of US data and Jackson Hole Symposium, NZD/USD broad bias is bearish, as the Fed is more hawkish than the RBNZ, which announced the end of the interest rates hiking, while the Fed hasn’t yet.
The risk appetite sentiment from yesterday faded a bit ahead of the Jackson Hole Symposium. The US Initial Jobless Claims today could trigger some action in USD pairs.
I expect cautious risk sentiment today and consolidation in the pair unless there is a significant deviation from the US data. If there are more claims, the USD is down. If there are fewer claims, the USD is up.
I am neutral now, and fading rallies would be a better strategy as current prices don’t offer healthy risk-reward trading value for bears.
Resistances: 0.6000, 0.6040
Supports: 0.5930, 0.5900