NZDUSD Chart Technical Outlook

NZDUSD Chart Technical Outlook trades sideways above a support zone, NZD/USD broad bias is bullish. The short-term is indecisive with no clear bias. Prices have been consolidating this week in a narrow range. The support zone between 50% and 61.8% held steady so far.

Markets hoped for soft figures from the US inflation data yesterday. Unfortunately, the data came better than expected. Investors will watch the US producer Price Index due today and the following speech from the Fed’s Kashkari. I expect more sideways, and the attempts to break the range might be fakeouts until there are more clues about the risk sentiment. Resistances: 0.6280, 0.6340 Supports: 0.6200, 0.6100

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