The NZDUSD pair regains positive traction on Friday and builds on the previous day’s late recovery from the 0.6065 region, or the weekly low. The pair climbs to the 0.6175-0.6180 area during the first half of the European session and remains well within the striking distance of its highest level since August 26 touched on Tuesday.
The US Dollar struggles to gain any meaningful traction on the last day of the week and turns out to be a key factor acting as a tailwind for the NZDUSD pair. A softer tone surrounding the US Treasury bond yields keeps the USD bulls on the defensive. Apart from this, a modest recovery in the equity markets further undermines the safe-haven buck and benefits the risk-sentiment Kiwi.
Moving ahead, traders now look forward to the release of the US Existing Home Sales data, due later during the early North American session. This, along with the US bond yields and the broader risk sentiment, will influence the USD and provide some impetus. Nevertheless, the NZDUSD pair remains on track to end in positive territory for the fifth successive week.