NZD/USD Price Analysis: Lacks a clear directional bias around 0.6500 NZDUSD Currencies Technical Analysis China DollarIndex
China covid reopening optimism checks the downside in the spot. is licking its wounds around 0.6500, as bulls lack a follow-through recovery momentum after getting thrashed on Friday.
This Monday, bulls are trying their luck to stage a minor recovery, although bears keep fighting for control amid the upside consolidations in the dollar across its main peers. Although the disappointing Chinese Caixin Services PMI contraction the renewed optimism. Meanwhile, holiday-thinned light trading also restricts the moves in the kiwi pair.
The 14-day Relative Strength Index is inching slightly higher above the midline, keeping bulls hopeful.
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