The NZD/USD pair has experienced a short-term recovery, with the New Zealand Dollar gaining strength against the US Dollar. The market’s focus remains on the Federal Reserve’s monetary policy outlook, with expectations for interest rate cuts in September increasing.

The US Dollar has shown weakness, with the DXY index falling below 101.00. The market’s risk appetite has declined, with concerns about the US labor market’s strength growing.

NZD/USD Technical Outlook

The NZD/USD pair has shown a bullish trend, with the potential for further gains. The pair is currently trading near the 0.6230 level, with resistance at 0.6250. A break above 0.6250 could signal a continuation of the upward trend, with potential targets at 0.6300 and beyond.