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The USD strengthened, propelled by rising US Treasury yields and speculation of a Fed's delaying cuts.Escalating geopolitical tensions in the Middle East also drive demand for the Greenback.Fed's Powell commented that inflation is showing a lack of progress.Soft housing market from the US data failed to trigger a reaction on the pair.The NZD/USD declined towards 0.5879 on Tuesday reflecting a loss of 0.46%, despite. The pair's movements are largely influenced by the market’s adjustments of their expectations and the delay of a rate cut by the Federal Reserve (Fed) by year-end. Rising Treasury yields are also applying downward pressure on the pair. On the data front, in March, Building Permits experienced a decline of 4.3%, dropping to 1.458 million, below both projected and February's figures. Housing starts also saw a significant drop of 14.7%, falling short of expectations at 1.321 million. However, industrial production for the same month rose by 0.4%, meeting expectations.  What drives the pair downwards is markets now betting on a more aggressive Fed. Following strong US data, market sentiment adjusted with expectations of an initial rate cut in September, and a 70% probability for a second cut in December. Expectations for a June rate cut have decreased to 25% from 60% the previous week. In addition, on Tuesday, Jerome Powell hinted that he sees no progress on inflation and that he considered that the monetary policy may need some additional time to work. The readjustments in expectations are also propelling US Treasury yields which also benefits the USD over the NZD. NZD/USD technical analysis Based on the indicators of the daily chart, the NZD/USD pair is exhibiting negative momentum. The Relative Strength Index (RSI) stands at 33.18, indicating a negative trend and nearing the oversold territory. Additionally, the Moving Average Convergence Divergence (MACD) histogram is exhibiting rising red bars, confirming the negative momentum and suggesting that sellers currently dominate the market. On the broader outlook, the NZD/USD also shows a negative trend as it trades below its 20, 100, and 200-day Simple Moving Averages (SMA). Unless buyers make a move above these levels, the bears will remain comfortable and dictate the pace of the pair. NZD/USD daily chart NZD/USD Overview Today last price 0.5886 Today Daily Change -0.0018 Today Daily Change % -0.30 Today daily open 0.5904   Trends Daily SMA20 0.6002 Daily SMA50 0.6079 Daily SMA100 0.6134 Daily SMA200 0.6063   Levels Previous Daily High 0.5954 Previous Daily Low 0.5898 Previous Weekly High 0.6079 Previous Weekly Low 0.5933 Previous Monthly High 0.6218 Previous Monthly Low 0.5956 Daily Fibonacci 38.2% 0.5919 Daily Fibonacci 61.8% 0.5933 Daily Pivot Point S1 0.5884 Daily Pivot Point S2 0.5863 Daily Pivot Point S3 0.5828 Daily Pivot Point R1 0.594 Daily Pivot Point R2 0.5975 Daily Pivot Point R3 0.5996    

Silver retreats to $28.09, unable to hold above the crucial $29 mark, indicating potential further declines.The 'dark cloud cover' technical pattern suggests vulnerability and possible downward movement.Focus remains on silver's ability to sustain above the $28.00 threshold, with key support and resistance levels closely watched.Silver prices retreat from daily highs reached $29.01, dropping 2.63%, affected by high US Treasury yields, and stirring resistance around the $29.00 threshold. The XAG/USD trades at $28.09, breaking key support levels on its way toward current spot prices. XAG/USD Price Analysis: Technical outlook From a technical standpoint, XAG/USD buyers failed to hold Siver’s quote above the psychological $29.00 level after reaching a year-to-date (YTD) high of $29.79. That exacerbated the grey’s metal drop toward the $28.00 mark, opening the door for further downside. During the last couple of days, price action formed a ‘dark cloud cover’ that needs confirmation below the April 15 low of $27.59. Momentum was extremely bullish, though the Relative Strength Index (RSI) exited from overbought conditions during the day, sponsoring a leg-down on Silver. That said, XAG/USD could witness a pullback before buyers attempt to challenge the $29.00 mark. Given the backdrop, Siver’s first support would be $27.59, followed by the $27.00 mark. Further losses are seen at $26.29, the April 5 low. On the flip side, if buyers keep the XAG/USD spot price above $28.00, the next resistance levels are seen at the June 10, 2021, high at $28.28, followed by the May 18, 2021 high at $28.74. XAG/USD Price Action – Daily ChartXAG/USD Overview Today last price 28.1 Today Daily Change -0.77 Today Daily Change % -2.67 Today daily open 28.87   Trends Daily SMA20 26.28 Daily SMA50 24.46 Daily SMA100 24 Daily SMA200 23.63   Levels Previous Daily High 28.89 Previous Daily Low 27.62 Previous Weekly High 29.8 Previous Weekly Low 26.88 Previous Monthly High 25.77 Previous Monthly Low 22.51 Daily Fibonacci 38.2% 28.41 Daily Fibonacci 61.8% 28.11 Daily Pivot Point S1 28.03 Daily Pivot Point S2 27.19 Daily Pivot Point S3 26.77 Daily Pivot Point R1 29.3 Daily Pivot Point R2 29.73 Daily Pivot Point R3 30.57