NZD/USD is trading up from the recent cycle lows, but bears are lurking

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NZD/USD is trading up from the recent cycle lows, but bears are lurking
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NZD/USD is trading up from the recent cycle lows, but bears are lurking By ross_burland NZDUSD Fed DollarIndex RBNZ Currencies

The bears are lurking as the bulls try to correct. has been correcting to the upside in the latter part of the New York session and is now meeting a resistance area that was carved out during US dollar strength. The price is currently trading at 0.6730 and towards the bottom of the recent weekly bearish run.

US inflation is "far too high," he said on Monday, repeating his case for increasing interest rates to 3.5% by the end of the year to rein in inflation expectations and slow what are now 40-year-high inflation readings.

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