The US Dollar is rebounding as global risk sentiment weakens. The NZD/USD pair is rising steadily as investors favour the Greenback. A stronger US Dollar reflects risk-off flows and shifting expectations for Fed rates.
The 4-hour chart for NZD/USD shows that the pair is consolidating below the 0.61 area. The formation of multiple bottoms above 0.5850, followed by a strong rebound from 0.55, indicates that the pair remains in a strong upward trend. A break above 0.61 could push the pair to much higher levels.
