NZD/USD: 0.64 handle under pressure from Bulls
FXStreet (Guatemala) – NZD/USD is currently trading on the bid and made room on the 0.64 handle with a low of 0.6311.
NZD/USD is currently consolidating the upside of the sharp spike in price in the back of a no-change decision from the Fed today while they wish to monitor for an improvement in the labour market and be reasonable confident on meeting their 2% target. The statement also highlighted the global uncertainties that are yet to be realised in respect to what effect they are having on the US economy and a move too soon may jeopardise an improvement in the local economy.
Technically, the 20 DMA at 0.6384 has been penetrated and the 0.64 handle has come back into focus. The pair is trading with a bullish bias as the MACD turns more positive on the daily time frames. The next line of resistance stands at the 50 DMA at 0.6510.