NZDUSD D1 28-01

The drop below 0.6700 last week was the crucial element in driving the declines for NZD/USD as of late but the stronger dollar and more hawkish Fed certainly exacerbated that sentiment.

As a result, the pair is now finding itself on the verge of seven straight days of declines - down another 0.4% today.

From a technical perspective, there is very little in the way of a push towards 0.6500 next potentially. And that might be where sellers are targeting before we see a bit of a pause to the downside momentum.

The chart above only serves to reaffirm that the dollar is sitting in a good spot technically across the board, as highlighted earlier here.