The NZD/USD goes back while the Fed indicates caution and the kiwi fights with mixed labor data

• The NZD/USD consolidates about 0.6000 after touching a maximum of six months.
• The Fed keeps rates without changes but highlights the increase in inflation and unemployment risks.
• Technical indicators have a mixed perspective, with key support in 0.5920 and resistance at 0.5950.

The NZD/USD torque is going back from a maximum of six months about 0.6025 previously reached on Wednesday, quoting around 0.6000 while investors react to the cautious tone of the Federal Reserve Policy (Fed) and the mixed economic data of New Zealand. The FED maintained its policy rate without changes in 4.25% -4.50% in line with market expectations, but recognized the increase in the risks of inflation and unemployment, adding a layer of uncertainty to the market.

The Fed policy declaration reaffirmed its data -dependent approach, highlighting that inflation remains “somewhat high” and that risks for both unemployment and inflation have increased. This cautious tone, combined with the continuous reduction of the balance, has supported the US dollar (USD), exerting pressure on the New Zealand dollar (NZD). The American dollar index (DXY) remains stable about 99.50, reflecting a cautious feeling of the market before the press conference of the Fed president, Jerome Powell.

Meanwhile, the New Zealand labor market data added difficulties to the Kiwi. The unemployment rate remained unchanged by 5.1%, surprising markets that expected a slight increase to 5.3%. However, the labor cost index grew at a slower pace than expected, reinforcing the expectations of greater relief by the New Zealand Bank reserve (RBNZ). The RBNZ is likely to maintain a dovish posture, with the markets valuing additional cuts of fees in the coming months.

Technical analysis of the NZD/USD

Technically, the NZD/USD faces initial resistance at 0.5943, followed by 0.5948 and 0.5952. At the bottom, the support is observed at 0.5930, 0.5915 and 0.5886. The RSI is neutral in 55.28, while the MACD shows a bearish divergence, suggesting a possible correction. However, long -term mobile socks, including the 100 -day SMA (0.5728) and the 200 -day SMA (0.5886), indicate a more bullish perspective, maintaining the general tendency intact.

In summary, the NZD/USD perspective remains mixed while the torque consolidates recent profits, with the feeling of the market probably depending on the Fed guide and greater clarity on the economic path of New Zealand.

NZD/USD DIARY GRAPH