NZD/USD attracted some dip-buying on Monday amid some renewed USD selling bias. Reduced Fed rate hike bets, sliding US bond yields continued undermining the greenback. Worries about surging COVID-19 cases might keep a lid on any further gains for the pair. The NZD/USD pair built on its steady intraday recovery from three-day lows and refreshed daily tops, around the 0.7160 region during the early European session. The pair opened with a modest bearish gap on the first day of a new trading week, albeit lacked any follow-through selling, instead attracted some dip-buying near the 0.7125-20 region. Renewed fears about another dangerous wave of coronavirus infections globally weighed on investors’ sentiment and turned out to be a key factor that weighed on the perceived riskier kiwi. However, diminishing odds for an earlier Fed lift-off kept the US dollar bulls on the defensive and extended some support to the NZD/USD pair. Despite the incoming strong US economic data, investors seem convinced that the Fed will keep rates near zero levels for a longer period. The greenback was further pressured by the recent decline in the US Treasury bond yields. It is worth reporting that the yield on the benchmark 10-year US government bond retreated further from a more than one-year peak of 1.7760% touched in March and sank to 1.5280% last week. This, in turn, was seen as another factor that might continue to undermine the greenback and supports prospects for a further near-term appreciating move for the NZD/USD pair. There isn’t any major market-moving economic data due for release from the US. Hence, the US bond yields might continue to play a key role in influencing the USD price dynamics. Apart from this, the broader market risk sentiment should further allow traders to grab some short-term opportunities around the NZD/USD pair, though COVID-19 jitters might cap gains. Technical levels to watch  FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US Dollar Index drops to 5-week lows near 91.30 FX Street 1 year NZD/USD attracted some dip-buying on Monday amid some renewed USD selling bias. Reduced Fed rate hike bets, sliding US bond yields continued undermining the greenback. Worries about surging COVID-19 cases might keep a lid on any further gains for the pair. The NZD/USD pair built on its steady intraday recovery from three-day lows and refreshed daily tops, around the 0.7160 region during the early European session. The pair opened with a modest bearish gap on the first day of a new trading week, albeit lacked any follow-through selling, instead attracted some dip-buying near the 0.7125-20 region. Renewed fears about another… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.