The NZD/USD pair is hovering around 0.6275, within the 0.6300-0.6270 range. It continues to move sideways with a modest upside bias, without momentum.
The DXY is falling 0.15% on Tuesday. It managed to remain above 106.00. At the same time, US yields are modestly higher. The US 10-year yield peaked at 2.81% and returned to 2.79%.
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The NZD/USD is moving sideways with immediate support at 0.6270. A break lower would expose 0.6250 and then the last week’s low at 0.6210, which if broken should change the short-term bias from modestly bullish to neutral/bearish.
On the upside, a consolidation above 0.6300 should strengthen the kiwi. The next strong resistance is seen at 0.6350 (Aug high).
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