NZDUSD Chart Technical Outlook resumes lower toward 0.5960 on hawkish Fed speech
NZD/USD’s broad bias is bearish. Poor economic growth, cooling inflation, and softer labor in New Zealand are weighing on the Kiwi. Hawkish comments from Fed’s Waller pushed the pair lower.
A bearish wave count is in play, with wave 5 having more room for the downside. Supports are located at 0.5960 (daily ATR range) and 0.5910 (weekly ATR range). Resistances are at 0.6025 and 0.6050.
