NZD/USD hovers near its 2023 lows
NZDUSD has begun another round of weakness following the steep retreat from its October highs just a tad above the 50.0% Fibonacci retracement of the 0.5510-0.6535 upleg. Although the pair managed to find its feet at a fresh one-year low of 0.5772, the short-term oscillators are reflecting persistent downside risks.
Should the selling interest intensify further, initial support could be met at the 2023 low of 0.5772. Sliding beneath that floor, the pair may descend towards the 78.6% Fibo of 0.5730. A violation of that region could open the door for the September 2022 support of 0.5598.
On the flipside, if the bulls regain control, the price might challenge the September low of 0.5858, which also acted as resistance lately. Piercing through that wall, the pair could advance towards the 61.8% Fibo of 0.5902 before the 50.0% Fibo of 0.6023 appears on the radar. Even higher, the 38.2% Fibo of 0.6144 might curb further upside attempts.
Overall, despite pausing its steep downtrend, NZDUSD has been stuck in a sideways pattern, appearing unable to stage a recovery. Hence, traders should not rule out a fresh lower low as near-term risks remain skewed to the downside.
.jpg "NZD/USD hovers near its 2023 lows")
AUD/NZD Rallies Amid RBNZ Dovish Cut – Aussie Cross Leads Market Moves | 20th August 2025
Pound Holds Ahead of Inflation Data | 19th August 2025
Precious Metals Steady, USD Holds Firm Against Majors | 18th August 2025
Gold Climbs, Silver Tests Resistance as Dollar Gains on CPI Data | 13th August 2025
New Zealand's labour market – a new reason to pause the RBNZ's rate cuts
Markets on Edge as Dollar Dips and PMI Reports Take Center Stage
Silver Holds at $37 as Dollar Mixed, Yen Slips, Pound Pressured | 2nd August 2025
