The New Zealand dollar is showing mixed dynamics in the NZD/USD pair, maintaining the "bearish" momentum formed the day before, when the instrument retreated from local highs from May 8. 

A fall is possible.

On the weekly chart, the downward wave of the highest level (C) develops, within which the correctional second wave 2 of (C) ended, and the third wave 3 of (C) forms. On the daily chart, the first entry wave of the lowest level i of 3 and the correctional second wave ii of 3 have ended, and the third wave iii of 3 has started. If the assumption is correct, the NZD/USD pair will fall to the area of 0.5300–0.5000. In this scenario, the critical stop loss level is 0.6025.

The NZD/USD pair is trading near 0.5889. The focus on China in international trade continues to play a key role in strengthening the New Zealand currency. However, the conclusion of the tariff deal between the US and China has an ambiguous effect on the asset, supporting both the yuan (and, therefore, the New Zealand dollar) and the American currency.

During the Asian session, the NZD/USD pair is correcting to the 0.5890–0.5850 region amid the strengthening of the American dollar after the US Fed kept the interest rate at 4.25–4.50%. 

The NZD/USD pair is correcting to a long-term upward trend, trying to rise above the support zone of 0.5981–0.6030 (Murrey level [+1/8], Fibonacci correction 50.0%). Consolidation above will allow it to reach the area of ​​0.6145 (Fibonacci correction 38.2%) and 0.6280 (Fibonacci correction 23.6%).