NZD/USD consolidated awaiting FOMC outcome

By FXStreet FXStreet (Guatemala) – NZD/USD is currently trading at 0.6317 with a high of 0.6378 and a low of 0.6311.

NZD/USD’s downside kicked in towards the end of the Asian cycle of sessions this week with a poor result in the GDP releases for Q2 which corresponds to the RBNZ’s cautious rhetoric surrounding the state of their economy. Otherwise, markets have been relatively kind to the bird, with a pick up in risk sentiment and commodity prices.

Today, however, is all about the FOMC and Fed’s interest rate decision while investors and economists are split on whether the Fed will indeed start to hike interest rates this month or not. The bird is subject to volatility over the release and accompanying statement and press conference.

NZD/USD levels

Technically, the 200 SMA at 0.63123 has been penetrated to the downside and this is significant on the hourly chart. The next key support comes at 0.6290 and recent lows on the rising support line from the mid point of the 0.62 handle.
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Source:: FX Street