NZD/USD continues to maintain the downtrend
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The ascending trend in the 4-hour timeframe was disrupted by a significant breakthrough at 0.593. Consequently, the NZD/USD currency pair remains under selling pressure below the 0.5900 level, having failed to sustain above 0.6000 during early Asian trading on Tuesday. At present, this particular currency pair is being traded around 0.589, reflecting a decline of 0.9% for the day.
The increase in value of the US dollar (USD) and higher interest rates offered by the US Treasury have exerted considerable stress on NZDUSD exchange rate.
The ascending trend in the 4-hour timeframe was disrupted by a significant breakthrough at 0.593. Consequently, the NZD/USD currency pair remains under selling pressure below the 0.5900 level, having failed to sustain above 0.6000 during early Asian trading on Tuesday. At present, this particular currency pair is being traded around 0.589, reflecting a decline of 0.9% for the day.
The increase in value of the US dollar (USD) and higher interest rates offered by the US Treasury have exerted considerable stress on NZDUSD exchange rate.
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