• NZD/USD slipped lower on Tuesday as surging Treasury yields and mounting bets on further Federal Reserve rate hikes kept the greenback bouyed.
• Risk assets are being squeezed by a dramatic selloff in global bonds, as inflation worries and fiscal strains push investors to demand ever-higher returns particularly on long-dated debt..
• Markets are meanwhile clinging on to lingering hopes for a possible truce between the US and Iran, as the two countries are reportedly exploring a phased path to reopen the Strait of Hormuz.
•Investors will also focus on U.S. August durable-goods orders due Friday. The Reuters consensus expects durable goods orders to decline 0.4% month-on-month.
• Immediate resistance is located at 0.5734(38.2%fib), any close above will push the pair towards 0.5784(SMA20)
• Support is seen at 0.5636(50%fib) and break below could take the pair towards 0.56245(Lower BB).
Recommendation: Good to sell around 0.5670 with stop loss of 0.5750 and target price of 0.5600
