The New Zealand Dollar (NZD) has shown resilience, trading higher for the third consecutive day on Tuesday. However, the currency pair NZD/USD continues to face resistance, struggling to break above the key technical level of 0.5790. As traders observe this area, the exchange rate reflects the ongoing strength of the US Dollar (USD), which is exerting pressure on the Kiwi.
Despite the upward momentum, the NZD's attempts to advance remain constrained, primarily due to the firm footing of the USD in the market. With a lack of significant catalysts to propel the New Zealand Dollar higher, traders are likely to remain cautious, keeping a close eye on the 0.5790 threshold in the coming sessions. The interplay between these currencies may dictate further price movements as market participants assess global economic conditions and monetary policy developments.
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Data Source: FX Killer Analysis Team Updated: 2025-12-09 09:46
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.