The New Zealand Dollar (NZD) accelerates its reversal against the US Dollar (USD) on Wednesday, weighed by cautious markets amid growing tensions in the Middle East and political uncertainty at home. NZD/USD bears are testing support at the 0.5860 area, down from last week's highs above 0.5900, against a firmer USD ahead of July’s US inflation data. Technical Analysis: Key support is at the 0.5830 areaNZD/USD trades at 0.5865 after depreciating for three consecutive days, with bears aiming to break the bottom of the last two weeks' trading range, at the 0.5860 area. A clear break below the mentioned 0.5860 level would expose a key support area in the confluence of the ascending trendline from late June lows, now around 0.5835, and the 200-day SMA, a popular indicator, which would cross the price at around 0.5830. (The technical analysis of this story was written with the help of an AI tool.