Chart - Courtesy Trading View
NZD/USD was trading 0.36% lower on the day at 0.6167 at around 06:20 GMT.
The pair has paused a two-day recovery attempt and has slipped below 5-DMA.
A softer risk tone amid renewed lockdown fears in Shanghai undermined the risk-sensitive currencies.
Stellar US Nonfarm Payrolls (NFP) data released last Friday boosted the US dollar across the board, weighing on the pair.
Going forward, US inflation will remain a key event this week. A significant fall in the core CPI will indicate that the price pressures are mostly guided by volatile oil and food prices.
Traders will also take cues from the US monthly Retail Sales data and Prelim Michigan Consumer Sentiment on Friday for further impetus.
Support levels - 0.6169 (5-DMA), 0.6122 (Lower BB)
Resistance levels - 0.6253 (21-EMA), 0.63
Summary: Technical indicators support further weakness in the pair. Scope for pair to refresh multi-year lows.
