NZD/USD struggling to climb over 0.6040 after catching a soft rebound for Tuesday

The NZD/USD is seeing small gains on Tuesday, but is struggling to climb over near-term resistance. The Kiwi is getting knocked back from 0.6040 after building a floor from the 0.6000 handle. With the economic calendar anemic on the Kiwi side, market direction will be determined by US inflation figures this week. Kiwi is struggling to find a foothold above 0.6040 against the US Dollar .

6050 handle remains the level to clear before the pair can claim new six-week highs, with the 50-day Simple Moving Average now providing technical support from 0.5950, with technical resistance from the 200-day Simple Moving Average sitting just below 0.6175. Despite a near-term rebound from 2023's lows near 0.5850, the Kiwi remains firmly loweragainst the US Dollar for the year, down nearly 6% from the last meaningful swing high at July's peak near 0.6410, and in the red over 7.

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