USD major pairs: What goes down must go up-eventuallyNew Zealand Dollar / U.S. DollarFOREXCOM:NZDUSDjvrfxalertsHello traders Another day, another dollar and another wild trading day. I have used the 50W MA to illustrate the price action in EUR, JPY, NZD and DXY. NZD/USD shows today's correction best. The 6h chart shows a significant drop without any correction until today. Fundamentally, the USD is still the strongest after all the Central Bank decided this week to hold rates for one obvious reason: The Iran war. The price of Brent and WTI is still way elevated and will remain so for some time to come. This is not a faucet that is opened and closed at will. The disruption in production and the supply chain will take months to restore IF and WHEN the Strait of Hormuz is safe to navigate. Hegseth added some more fuel to the already burning oil facilities by indicating that he'll ask Congress for another $200 billion to fund this war. So, no end in sight. The pop in Bonds is noticeable. The US 2Y yield has already increased from 3.65% to 3.95% in one day. That is the canary in the coal mine. Investors are expecting a rate increase or rates to be on hold for longer. I do not expect this USD move today to be anything but a correction and not a change in trend. But do your own research and I look forward to your feedback. I believe @FXCM (Michael Boutros?) also mentioned the resistance level in NZD/USD recently.