• NZD/USD rose above 0.6200 and jumped to positive territory.
  • Fed hiked rates by 0.25% as expected to 5.25-5.50%.
  • Powell opened the door to “not hike rates” in September.

The NZD/USD cleared daily losses and jumped to positive territory towards the 0.6220 area.

The Federal Reserve (Fed) hiked rates by 25 basis points (bps) to the 5.25-5.50% target. In the presser, Jerome Powell didn’t commit to further hikes noting that ongoing decisions will depend fully on incoming data.

Regarding his economic assessment, he noted that economic activity remains robust, the labour tight, and inflation elevated. In addition, he stated that the Fed expect some “softening” of the labour market and some below-the-trend growth.

During the presser, the US Treasury yields fell sharply, which applied pressure on the USD. The 2-year yield fell to 4.86%, while the 5 and 10-year rates fell to 4.10% and 3.86%, all three with more than 0.50% losses.

 

NZD/USD Levels to watch

 According to the daily chart, the outlook is neutral to bearish. The Relative Strength Index (RSI) Index is in positive territory, slightly above the middle line. At the same time, the Moving Average Convergence Divergence (MACD) index prints soft red bars suggesting that the bears are holding their ground. On the bigger picture, the pair holds above the 20,100 and 200-day Simple Moving Averages (SMA), which suggests that the buyers are in command.

Support levels:0.6223 (20-day SMA), 0.62139 (100-day SMA), 0.61978 (200-day SMA).
Resistance levels: 0.6240, 0.6300,0.6350
 

NZD/USD Daily chart

NZD/USD

Overview
Today last price 0.6229
Today Daily Change 0.0007
Today Daily Change % 0.11
Today daily open 0.6222
 
Trends
Daily SMA20 0.6215
Daily SMA50 0.6169
Daily SMA100 0.6196
Daily SMA200 0.6212
 
Levels
Previous Daily High 0.623
Previous Daily Low 0.6189
Previous Weekly High 0.637
Previous Weekly Low 0.6163
Previous Monthly High 0.625
Previous Monthly Low 0.599
Daily Fibonacci 38.2% 0.6214
Daily Fibonacci 61.8% 0.6205
Daily Pivot Point S1 0.6197
Daily Pivot Point S2 0.6173
Daily Pivot Point S3 0.6156
Daily Pivot Point R1 0.6239
Daily Pivot Point R2 0.6255
Daily Pivot Point R3 0.628

 


 

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

EUR/USD flirts with 1.0500 on mixed US PMI readings

EUR/USD flirts with 1.0500 on mixed US PMI readings

 The bullish momentum remains unchanged around EUR/USD on Friday as the pair keeps its trade close to the area of multi-week highs around the 1.0500 barrier in the wake of the release of mixed results from the preliminary US Manufacturing and Services PMIs for the current month. 

EUR/USD News
GBP/USD challenges recent peaks near 1.2450

GBP/USD challenges recent peaks near 1.2450

GBP/USD pushes harder and puts the area of recent two-week highs near 1.2450 to the test on the back of the intense sell-off in the Greenback, while the British pound also derives extra strength from earluer auspicious prints from advanced UK Manufacturing and Services PMIs.

GBP/USD News
Gold keeps the bid bias near its all-time high

Gold keeps the bid bias near its all-time high

Gold prices maintain the bid tone near their record top at the end of the week, helped by the intense weakness around the US Dollar, alleviating concerns surrounding Trump's tariff narrarive, and a somewhat more flexible stance towards China.

Gold News
Dogelon Mars pumps more than 85%, whales dump 128 billion coins and realize a profit

Dogelon Mars pumps more than 85%, whales dump 128 billion coins and realize a profit

Dogelon Mars (ELON) price continues its rally on Friday after rallying more than 18% this week. On-chain data shows that ELON whale wallets realized profits during the recent surge. The technical outlook suggests a rally continuation of the dog-theme meme coin, targeting double-digit gains ahead.

Read more
ECB and US Fed not yet at finish line

ECB and US Fed not yet at finish line

Capital market participants are expecting a series of interest rate cuts this year in both the Eurozone and the US, with two interest rate cuts of 25 basis points each by the US Federal Reserve and four by the European Central Bank (ECB).

Read more
Trusted Broker Reviews for Smarter Trading

Trusted Broker Reviews for Smarter Trading

VERIFIED Discover in-depth reviews of reliable brokers. Compare features like spreads, leverage, and platforms. Find the perfect fit for your trading style, from CFDs to Forex pairs like EUR/USD and Gold.

Read More

Forex MAJORS

Cryptocurrencies

Signatures