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NZD/USD Vulnerable amid Failure to Retain January Opening Range
NZD/USD attempts to retrace the decline from the start of the week as the US Dollar weakens on the back of improving investor confidence, but failure to preserve the monthly opening range may lead to a larger correction in the exchange rate amid the ongoing rise in longer-dated Treasury yields. The recent series of lower highs and lows in NZD/USD appears to be unraveling as it bounces back from a fresh monthly low (0.7146), and a further improvement in risk appetite may generate a larger rebound in the exchange rate as the US Dollar still reflects an inverse relationship with inverse confidence. However, NZD/USD may ... (full story)