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Today, the NZD/USD pair halts the previous day's pullback from its near three-week high but struggles to attract buyers. Traders are reluctant to open new positions, preferring to wait for the release of the FOMC meeting minutes. Additionally, today's U.S. labor market data—featuring the ADP private-sector employment report and weekly initial jobless claims—adds to the cautious sentiment.
Meanwhile, the U.S. dollar attempts to recover recent losses, buoyed by positive economic data from the U.S. This fundamental backdrop requires caution before confirming whether spot prices have formed a short-term bottom in preparation for extending the recent rebound from the lowest level since October 2022, near the 0.5585 level reached last week.At its December monetary policy meeting, the Federal Reserve adopted a more hawkish stance, indicating plans to slow the pace of rate cuts in 2025. This continues to support rising U.S. Treasury yields, favoring dollar bulls. Additionally, ongoing geopolitical risks, concerns over tariff plans by U.S. President-elect Donald Trump, and the potential for a trade war between the U.S. and China sustain the likelihood of periodic dollar-buying surges. Combined with a cautious market mood, this should help limit the NZD/USD pair's downward potential.From a technical perspective, daily chart oscillators remain firmly in negative territory and are not yet oversold. Thus, the path of least resistance for the NZD/USD pair remains to the downside.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।