NZD/USD Price Analysis: Kiwi rebound eyes 0.6150 and NZ/US inflation clues

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• NZD/USD defends previous recovery from the key Fibonacci retracement level, clings to mild gains of late.
• Upside oscillators favor recovery towards previous support line.
• Three-week-old falling resistance line, 200-SMA challenge Kiwi buyers.
• Kiwi sellers need validation from multi-day-old horizontal support zone, RBNZ Inflation Expectations and US CPI.

NZD/USD renews its intraday high near 0.6115 as it extends the previous run-up during the mid-Asian session on Monday. In doing so, the Kiwi pair justifies the US Dollar’s struggle ahead of this week’s US Consumer Price Index (CPI) data while also cheering the optimism ahead of the Reserve Bank of New Zealand’s Inflation Expectations for the third quarter (Q3) of 2023.