The NZDUSD has fallen to a new low of 0.5709, bringing the pair closer to an important support zone between 0.5688 and 0.5698, which sits just above the 2026 low from early April at 0.5677.The pair had previously rallied to a high near 0.5862 before turning sharply lower. The more hawkish-than-expected FOMC decision triggered a break to the lowest levels since April. Although buyers attempted a rebound on Thursday, that recovery quickly faded, with the pair reversing lower into the close and extending its decline on Friday.Today's price action has been characterized by a steady grind lower, interrupted only by a modest corrective bounce during the early North American session before sellers reasserted control.The broader backdrop remains supportive for the U.S. dollar. Treasury yields continue to climb, with both the 2-year and 10-year yields up around 5.8 basis points on the day. The dollar is broadly stronger across the board, with the NZDUSD the weakest major currency pair, down approximately 0.54% on the session.Technically, a break below 0.5688-0.5698 would increase the focus on the 0.5677 yearly low, and a move below that level would further strengthen the bearish bias for the pair. This article was written by Greg Michalowski at investinglive.com.