NZDUSD pares intraday losses near 0.5900 amid optimism at options market
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NZDUSD seesaws around the intraday high near 0.5910 while paring the daily loss during the mid-Asian session on Monday.
The kiwi pair’s latest gains could be linked to the upbeat signals from the options market, via the risk reversal (RR), spread between the call options and the put options.
That said, the NZDUSD pair’s daily RR printed the strongest figure since early May 2022 while flashing 0.395 for Friday, per data source Reuters.
On the same line, the weekly RR figure also printed the five-week uptrend with the latest figures being 0.250.
It’s worth noting that the market’s risk-off mood, mainly due to China’s covid conditions and anxiety over the US Federal Reserve’s next move keeps the NZDUSD traders on the edge.
Also read: NZDUSD Price Analysis: Bulls remain hopeful above 0.5785-90 support confluence
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