- NZD/USD recovers from the lower level in two months but lack follow-through.
- RBNZ Inflation Expectations for Q3 improves to 2.83% QoQ versus 2.79% prior.
- Impending bull cross on MACD, gradually improving RSI favor corrective bounce but multiple hurdle check Kiwi bulls.
NZD/USD grinds near intraday high below 0.6100, close to 0.6080 by the press time, as snaps a two-day losing streak while bouncing off the lowest level in two months ahead of Wednesday’s European session. In doing so, the Kiwi pair justifies upbeat prints of the Reserve Bank of New Zealand (RBNZ) Inflation Expectations for the third quarter (Q3) of 2023 amid the US Dollar’s pullback.
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