NZD/USD Price Analysis: Hovers near the immediate barrier at 0.5900 psychological level

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• NZD/USD struggles to halt the losing streak amid improved US Dollar.
• MACD suggests tepid momentum, monitoring for potential shifts in market dynamics.
• The pair could revisit the 1.0750 major level aligned to the weekly high at 1.0756.

NZD/USD continues the losing streak for the fifth successive day, trading around the 14-day Exponential Moving Average (EMA) at 0.5898 during the European trading hours on Friday, lined up with the immediate resistance at 0.5900. Fed Chair Jerome Powell’s endorsement of further interest rate hikes has exerted downward pressure on the Kiwi pair.