NZD/USD Price Forescast: Above 0.6030, the next target is 0.6090

• The US Dollar bleeds on fresh tariff threats and looming US Debt fears.
• Dovish comments from Fed Waller have increased pressure on the USD.
• NZD/USD is testing Year-to-Date highs at 0.6030.
  

The New Zealand Dollar is one of the best performers on Monday. The Kiwi is dragging support from a weaker US Dollar, to retrace last week's losses, with bulls testing a key resistance area at 0.6030.

Trump's comments, threatening to double tariffs on steel, a new rift with China on minerals trade and looming concerns about US debt are hammering the US Dollar across the board at the week's opening.

Beyond that, data from Friday showed that US PCE inflation kept cooling, in spite ot the tariffs chaos, which keeps hopes of further Fed easing alive. Earlies today, Fed Governor Christoper Waller has supported that view, adding pressure on the USD.

NZD/USD bulls are testing a key resistance at 0.6030

From a technical standpoint, the Kiwi keeps moving within an ascending channel. The 4-Hour RSI is high but still below overbought levels, and bulls are pushing against the 0.630 resistance area, the Year-to-Date high.

A confirmation above here will bring the trendline resistance, now at 0.6090, into focus. Above here, a 261.8% Fibonacci extension, a common target, is at 0.6160 

On the downside, channel support is at 0.5950. Below that level, the next support would be the 0.5895 level,  ahead of May's low, at 0.5845.

NZD/USD 4-Hour Chart