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NZD/USD technical analysis: Kiwi leaps above 0.6540 on dovish Fed

  • The Fed leaves its overnight rate unchanged in the 2.25-2.5% range. 
  • The news was seen as bearish for the US Dollar across the board.

The message of the Fed was dovish with hints of cutting rates. The NZD/USD broke above the 0.6540 resistance as the market is trading above its main simple moving averages (SMAs). A daily close above 0.6540 can lead to a continuation up towards 0.6580 and 0.6610 resistances. Immediate support is at 0.6540 and 0.6520. 

NZD/USD 30-minute chart

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