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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.

NZD/USD levels

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.

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