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NZD / USD recovery from week-long lows hits resistance below 0.7270

  • NZD / USD rebounds after falling towards 0.7200.
  • Bearish correction of the dollar and cut losses in the stock markets fueled the rebound.

In the Asian session and at the start of the European session, the NZD / USD fell to 0.7208, the lowest level since February 19. He then undertook a recovery erasing almost all daily losses. The rebound found resistance at the 0.7270 area. In the preview of the American session, it is trading at 0.7255 ,.

The dollar loses moment, only correction?

What the dollar does is still determining for the NZD / USD. The rebound in the pair was associated with the downward correction of the dollar from the peak of the European session. The DXY went from 91.40 to 91.15, giving up much of the daily gains.

Markets are mostly trading in the red, but far from lows. Likewise, the rebound is losing momentum, which contributes to limiting the rises in the NZD / USD. The futures of the main Wall Street indices fall 0.12% on average.

Without economic impact data ahead of the US, the event to take into account is the statements by members of the Federal Reserve, Brainard and Daly. The key issue is the recent rise in Treasury yields.

Technical levels

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