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Figure Heloc 
The NZD/USD pair attracts some buyers near 0.5755 during the early European session on Friday. However, the upside for the pair might be limited in the near term after positive US economic data push out expectations for rate cuts by the US Federal Reserve (Fed).
💡 DMK Insight
The NZD/USD is finding some support around 0.5755, but here’s the kicker: recent US economic data is shifting the Fed’s rate cut timeline, which could cap any upside for the pair. With the Fed likely to maintain its current stance longer than anticipated, traders should be cautious about chasing rallies in the NZD/USD. The pair’s recent bounce off 0.5755 might attract short-term buyers, but the broader context suggests that resistance levels could hold firm. If the pair fails to break above recent highs, we could see a retracement back towards lower support levels. Keep an eye on US economic indicators, as further positive data could reinforce the Fed’s hawkish outlook, putting additional pressure on the NZD/USD. Watch for key resistance around 0.5800; a failure to breach this level could signal a shift back to bearish sentiment in the near term.
📮 Takeaway
Monitor the 0.5800 resistance level closely; failure to break above could lead to a pullback in the NZD/USD.
