NZD/USD Price Forecast: At fresh yearly lows with bears pushing against 0.5600
The New Zealand Dollar (NZD) keeps depreciating against the US Dollar (USD) on Thursday, hammered by a perfect storm of risk aversion, high Oil prices, and escalating US Treasury yields that have boosted the Greenback across the board.
The New Zealand Dollar (NZD) has dropped to its lowest level of the year against the US Dollar (USD), reaching 0.5599 on Thursday. This decline is fueled by a combination of risk aversion, high oil prices, and rising US Treasury yields, all of which have strengthened the US currency. The 10-year note's yield has hit a 24-year high above 5.30%, while the 30-year bond's yield reached 5.65%, the highest since May 2002.
Meanwhile, Brent Oil prices have surged, nearing the $100 mark, which is causing significant pressure for New Zealand, an oil-importing nation. The NZD/USD pair has been struggling, with its Relative Strength Index (14) indicating an oversold condition and the Moving Average Convergence Divergence (MACD) line staying well below zero.
The psychological 0.5600 level is currently holding the bears, but upside momentum is lacking, with the November 2025 low at 0.5580 and the 127.2% Fibonacci retracement at 0.5525. Should the pair rebound, it may face resistance at the previous year-to-date low of 0.5625 ahead of the weekly high near 0.5690.
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