NZD/USD falls to 0.5900, lowest since April 2020 on USD gains.

 

NZD/USD is under pressure from many sources and falls to its lowest point since April 2020. Bets on the Fed raising rates more aggressively help the USD quickly recover from a one-week low. Fears of a recession help the safe-haven dollar even more while hurting the risk-averse kiwi.

The NZD/USD pair continues to see strong selling pressure for the second straight day on Tuesday, adding to the small losses from the previous day. During the first part of the European session, the negative trend drives spot prices to their lowest point since April 2020. Bears are now watching for a sustained breach below the 0.5900 barrier.

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EDGE-FOREX 

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