NZD/USD steadies above 0.6000 as US Dollar extends losses

💡 DMK Insight

NZD/USD is on a roll, hitting around 0.6020 as the USD weakens—here’s why that matters: The recent gains in NZD/USD come as traders are cautious, anticipating key economic data that’s been delayed due to the partial government shutdown. This uncertainty often leads to a risk-off sentiment, pushing traders toward currencies like the NZD, which can offer better yields. If the USD continues to decline, we might see NZD/USD testing resistance levels around 0.6050. Keep an eye on the upcoming economic indicators; if they come in weaker than expected, it could further bolster the NZD against the USD. But let’s not ignore the flip side: if the government shutdown resolves and the USD regains strength, we could see a quick reversal. Traders should monitor the 0.6000 support level closely; a break below could signal a shift in momentum. Watch for volatility in the next few days as data releases approach, which could create trading opportunities in both directions.