FxWirePro:AUD/USD pauses 5-week bearish streak, Antipodeans buoyed as concerns about Omicron variant ebb
FxWirePro: NZD/USD slumps over 0.70% to hit monthly lows, USD strength and risk-off weigh
NZD/USD chart - Trading View
NZD/USD was trading 0.73% lower on the day at 0.6961 at around 10:10 GMT, outlook bearish.
Aggressive selling around NZD/USD on Tuesday amid broad-based US dollar strength and rising risk-off.
US dollar boosted on surging US Treasury yields after the Fed last week hinted that it will soon taper its asset purchases.
On the other side, China Evergrande Group's unsolved debt crisis, intensifying energy crisis in Europe and China along with poor China's industrial profits data keep sentiment weak.
Market participants now look forward to Fed Chair Jerome Powell's testimony before the Senate Banking Committee.
On the data front, Conference Board's Consumer Confidence Index and the US bond yields, will also influence the USD price dynamics.
Technicals for the pair support more downside. Price action has slipped below 55-week EMA support at 0.6971.
Break below has raised scope for test of 0.6864 (110-week EMA) ahead of 0.6765 (channel base).