Kiwi trades lower after FOMC meeting , good to sell on rallies
NZD/USD has made a low of 0.6625 after hawkish FOMC meeting. US Fed has kept its interest rate on hold in meeting held on Oct 27-28th.
But they have increased likehood of Fed rate hike in Dec by removing previous warnings about the fragility of the global economy.
RBNZ has also interest unchanged and warned that increasing NZD will force the central bank to cut on Dec.
Technically Kiwi is facing strong resistance around 0.6755 and break above targets 0.6800/0.6830
On the downside it is facing strong support around 0.6625 and break below will drag the pair to 0.6550/0.6500.
it is good to sell on rallies around 0.6680-85 with SL around 0.6755 for the TP of 0.655I
But they have increased likehood of Fed rate hike in Dec by removing previous warnings about the fragility of the global economy.
RBNZ has also interest unchanged and warned that increasing NZD will force the central bank to cut on Dec.
Technically Kiwi is facing strong resistance around 0.6755 and break above targets 0.6800/0.6830
On the downside it is facing strong support around 0.6625 and break below will drag the pair to 0.6550/0.6500.
it is good to sell on rallies around 0.6680-85 with SL around 0.6755 for the TP of 0.655I