The NZD/USD pair turns sideways below the psychological resistance of 0.6000 as tensions deepening in the Middle East over the Israel-Hamas crisis hav
NZD/USD juggles around 0.5980 after a corrective move, propelled by a risk-off impulse. The US Dollar Index recovers to near 106.53 as investors shift focus to the inflation data for September. NZD/USD trades in a 0.5840-0.6050 range from the past two months, indicating a sheer volatility squeeze. e dampened market sentiment. The Kiwi asset drops to near 0.5980 as investors rush to safe-haven assets.
The Kiwi asset remains sticky with the 20-period Exponential Moving Average around 0.5960, portraying a sideways performance. Meanwhile, the Relative Strength Index hovers near 60.00. A breakout above the same would activate the bullish impulse. Going forward, a decisive break above the psychological resistance of 0.6000 would drive the major toward September 29 high around 0.6050. A breach of the latter would send the major toward August 09 high at 0.
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