NZDUSD Technical Analysis – Is this a pullback or a reversal? ...Middle East

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Fundamental OverviewThe USD yesterday came under pressure following the miss in the US ISM Manufacturing PMI which triggered a drop in Treasury yields. In terms of market pricing, not much has changed as we still oscillate between one and two rate cuts by the end of the year. Nonetheless, the data reinforced the narrative that the next move is more likely to be a rate cut, and that inflation is likely to keep coming back to target. The NZD, on the other hand, remains supported from the hawkish RBNZ decision where the central bank pushed further out the timing for a rate cut and even added that they considered a rate hike. The currency has also been supported by the positive risk sentiment in

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Last updated : 04 June 2024 clock 03:04 PM

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NZDUSD Technical Analysis – Is this a pullback or a reversal? ...Middle East

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