Kiwi sellers return to test year-to-date lows at 0.5970-60.
The sour market mood is weighing on the risk-0sensitive NZD.
Below 1.5960, the next bearish target is the 2023 low, at 0.5770.
Kiwi’s feeble recovery attempt seen on Friday has been short-lived, and the has resumed its bearish trend on Monday. Sellers showed up at 0.5900 to send the pair towards the 0.5870-60 support area, which is being tested at the moment.
The US Dollar is firming up across the board with geopolitical concerns weighing investors' mood. This will keep the risk-sensitive Kiwi on the defensive.
