• NZD/USD attracts buyers for the third straight day and climbs to a multi-week top on Tuesday.
• The strong move-up could be attributed to some technical buying above the key 200-day SMA.
• A modest USD recovery might cap gains ahead of the FOMC meeting minutes on Wednesday.

The NZD/USD pair builds on the overnight breakout momentum through the very important 200-day Simple Moving Average (SMA) and scales higher for the third successive day on Tuesday. Spot prices advance to a nearly six-week peak, around the 0.6130-0.6135 region during the early part of the European session, though might struggle to capitalize on the positive move. 

As investors look past the Reserve Bank of New Zealand's (RBNZ) dovish tilt last week, the risk-on mood and optimism over a possible economic stimulus from China's government act as a tailwind for antipodean currencies, including the Kiwi. The US Dollar (USD), on the other hand, dropped to its lowest level since January amid bets for an imminent start of the Federal Reserve's (Fed) rate-cutting cycle in September. This turns out to be another factor pushing the NZD/USD pair higher.