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ND/USD recovers from post FOMC sell-off lows

FXStreet (Guatemala) - NZD/USD is currently recovering from the downside of the aftermath of the FOMC and is oscillating around the 20 DMA on the daily chart at 0.6365.

NZD/USD fell back from the sharp spike post the no-change decision from the Fed today when it reached highs of 0.6444. Risk-off was the theme leading into the press conference as equities declined sharply and the riskier assets were left alone and while confidence in the global economy has been knocked, the kiwi is highly vulnerable to the downside.

In the meantime, we will wait to see the reaction in Asia and EM's throughout the course of next week while the Fed will continue monitor for an improvement in the labour market and until they get reasonable confident on meeting their 2% target, they are unlikely to hike amidst global uncertainties.

NZD/USD levels

Technically, the 20 DMA at 0.6365 is being probed and the top of the channel resistance is being tested here at current levels. On a full recovery, the next line of resistance above recent and aforementioned highs stands at the 50 DMA at 0.6510. to the downside, the 200 DMA is located at 0.6327 that guards the 0.6250 area and lows of earlier in the month.

RBA Stevens: Australian economy progressing, Aussie drop having effects

RBA Governor Glenn Stevens appears in the Australian parliament today, before the House of Representatives Standing Committee on Economics, noting that the Australian economy is progressing through major adjustments.
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