NZD/USD edges higher but struggles to hold gains above 0.5800
The New Zealand dollar opened the week with modest gains against a softer US dollar, but the pair remains capped below the 0.5800 level.
NZDUSD
The NZD/USD pair started Monday’s session on a positive note, lifted by broad-based US dollar weakness. However, bullish momentum remains hesitant, with the pair unable to build sustained traction beyond the 0.5800 handle.
Downside appears limited as the greenback stays under pressure, but upside attempts are equally capped. The kiwi lacks a fresh domestic catalyst, leaving the pair stuck in a narrow range.
Traders will watch for any shift in USD dynamics or risk sentiment to provide direction, but for now the pair shows little conviction either way.
Source: FXStreet Forex News