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NZD/USD spikes to 0.8175, FOMC loses pared

FXStreet (Bali) - NZD/USD has seen a 25/30 pips boost after the NY close, with the rate reaching 0.8175 highs as the recovery off FOMC-driven lows at 0.8073 continues.

The pair, which had an unperturbed fall for over 2 months, as the market re-priced rate hike expectations by both the RBNZ and the Fed, was able to produce a bounce at a key demand area at 0.81-0.8050, as per the origin of the big rally from early February this year.

Technically, the next key resistance to be removed in order to ease the selling pressure is located between 0.82 and 0.8230, with a break of the latter allowing scope for further upside, as the rise would also represent the break of a steep descending trendline coming from early Sept. On the downside, buyers are expected to keep emerging ahead of 0.8050.

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