NZD/USD Faces Resistance Near 0.5700 as CPI Report Approaches
The NZD/USD pair is struggling to build on its recent bounce from a multi-day low near the 0.5680-0.5675 range. On Wednesday, fresh selling pressure arose, leading the pair to trade around the 0.5700 mark, reflecting a slight decline of 0.15% for the day. Traders remain cautious, particularly with upcoming US consumer inflation figures set to release soon. The report could influence trading sentiment and the USD’s strength. Market participants should remain alert to this data as it has the potential to drive price volatility for NZD/USD.