Forex
NZD/USD Holds Steady Amid US-Iran Uncertainty
The NZD/USD pair continues to hold steady near the 0.5870 mark as traders seem hesitant to make aggressive bets amid uncertainty surrounding US-Iran peace talks.
US Federal Reserve rate hike bets are also supporting the USD, while the Reserve Bank of New Zealand's hawkish tilt is limiting losses for the NZD.
The pair has been trading in a tight range, with prices consolidating above the 0.5865 supply zone and the 200-period Simple Moving Average (SMA) on the 4-hour chart.
Technical indicators are mixed, with the Relative Strength Index (RSI) hovering near 60 and the Moving Average Convergence Divergence (MACD) slipping marginally below its zero line.