NZD/USD witnessed some fresh selling and eroded a part of Friday’s goodish recovery move. A softer risk tone benefitted the safe-haven USD and weighed on the perceived riskier kiwi. The set-up favours bearish traders and supports prospects for further near-term weakness. The NZD/USD pair remained depressed through the early European session and was last seen hovering near the lower end of its daily trading range, around the 0.6975 region. The pair struggled to capitalize on the previous session’s goodish rebound of over 50 pips from four-month tops and faced rejection near the key 0.7000 psychological mark. The US equity futures kicked off the new week on a downbeat note, which drove some haven flows towards the US dollar and weighed on the perceived riskier kiwi. The greenback was further supported by the upbeat US economic outlook, bolstered by the impressive pace of coronavirus vaccinations and the passage of a massive stimulus package. Adding to the optimism, US President Joe Biden on Thursday made an ambitious pledge of administering 200 million vaccine shots in 100 days. Further supporting the prospects for a relatively faster US economic recovery from the pandemic were speculations for an additional $3.0 trillion infrastructure plan from the US. This comes after the New Zealand government last week announced a series of measures to cool the housing market and eased pressure on the RBNZ to raise rates. This was seen as another factor that weighed on the New Zealand dollar and supports prospects for a further near-term depreciating move for the NZD/USD pair. Hence, a subsequent slide back towards challenging multi-month lows, around the 0.6945-40 region, looks a distinct possibility amid absent relevant market moving economic releases. 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 AUD/USD to surge higher to 0.79 by end-June – Westpac FX Street 2 years NZD/USD witnessed some fresh selling and eroded a part of Friday's goodish recovery move. A softer risk tone benefitted the safe-haven USD and weighed on the perceived riskier kiwi. The set-up favours bearish traders and supports prospects for further near-term weakness. The NZD/USD pair remained depressed through the early European session and was last seen hovering near the lower end of its daily trading range, around the 0.6975 region. The pair struggled to capitalize on the previous session's goodish rebound of over 50 pips from four-month tops and faced rejection near the key 0.7000 psychological mark. The US equity futures… 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.