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NZD/USD continues to come under downward pressure, seventh consecutive daily decline looms

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NZD/USD continues to come under downward pressure, seventh consecutive daily decline looms

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The drop below 0.6700 last week has been the crux of NZD/USD’s decline lately, but the stronger dollar and more hawkish Fed have certainly exacerbated that sentiment.

As a result, the pair now finds itself poised for seven consecutive days of declines – another 0.4% decline today.

From a technical standpoint, there are very few obstacles to a potential push towards 0.6500. And this may be where the sellers are targeting before we see a small break in the bearish momentum.

The chart above only serves to reaffirm that the dollar is technically well positioned across the board, as highlighted above here.

NZD/USD continues to come under downward pressure, seventh consecutive daily decline looms

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