FxWirePro: NZD/USD remains soft as US bond bloodbath dominates

• NZD/USD slipped lower on Tuesday as surging Treasury yields and mounting bets on further Federal Reserve rate hikes kept the greenback bouyed.

• Risk assets are being squeezed by a dramatic selloff in global bonds, as inflation worries and fiscal strains push investors to demand ever-higher returns particularly on long-dated debt..

• Markets are meanwhile clinging on to lingering hopes for a possible truce between the US and Iran, as the two countries are reportedly exploring a phased path to reopen the Strait of Hormuz.

•Investors will also focus on U.S. August durable-goods orders due Friday. The Reuters consensus expects durable goods orders to decline 0.4% month-on-month.

•  Immediate resistance is located at 0.5734(38.2%fib), any close above will push the pair towards 0.5784(SMA20)

•  Support is seen at 0.5636(50%fib) and break below could take the pair towards 0.56245(Lower BB).

 Recommendation: Good to sell  around 0.5670 with stop loss of 0.5750 and target price of 0.5600