NZD/USD faces resistance above 0.6180 ahead of US ISM PMI and Fed policy: Should You Buy or Sell?

NZDUSD Currency Pair Bearish RichDadph

The NZD/USD pair has faced resistance at the critical level of 0.6180, indicating that the market sentiment is bearish. The US Dollar Index has extended its recovery above 101.70, and consistent US consumer spending and a jump in the labor cost index data have advocated for further interest rate hikes from the Fed. These factors suggest that the USD is likely to gain strength against the NZD in the short-term.