NZD/USD Falls as US CPI Data Fuels Fed Rate Hike Expectations

The New Zealand Dollar (NZD) declines against the US Dollar (USD) following hotter-than-expected US inflation data. Higher-for-longer US interest rates strengthen the USD as they

The New Zealand Dollar (NZD) declines against the US Dollar (USD) following hotter-than-expected US inflation data. Higher-for-longer US interest rates strengthen the USD as they attract foreign capital inflows.

Key Factors:

Stubborn US Inflation: February’s CPI figures exceeded forecasts, suggesting the Fed may need to maintain aggressive rate hikes.
Fed Rate Outlook: Reduced expectations for near-term US rate cuts weigh on the NZD.

Technical Outlook:

Bearish Shift: NZD/USD retreats from range highs, forming a bearish Shooting Star pattern.
MACD Crossover: The MACD indicator signals a potential continuation of the downtrend.
Downside Target: NZD/USD could retest range lows around 0.6080-90.
Upside Potential: A breakout above the range high and the Shooting Star high could trigger a rally towards 0.6309.

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