NZD/USD returns above 0.6000 as post-RNBZ weakness eases 

💡 DMK Insight

The NZD’s bounce above 0.6000 is a crucial moment for traders: After hitting a low of 0.5989, this recovery suggests a potential reversal or at least a short-term stabilization. Traders should consider that this level has been a psychological barrier in recent sessions, and a sustained hold above 0.6000 could attract more buying interest. Look for resistance around 0.6050, which could be a key area to watch if the NZD continues its upward momentum. However, keep an eye on broader market sentiment, especially any shifts in US economic data or Fed policy, as these could quickly change the dynamics. If the USD strengthens due to positive economic indicators, the NZD might struggle to maintain its gains. The real story here is whether this bounce is a dead cat or the start of a more significant trend reversal. Watch for any news that could impact risk appetite, as that will influence both the NZD and correlated assets like AUD/USD.