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3 Mar 2020
NZD/USD Price Analysis: Kiwi bounces from 2020 lows as Fed surprises with 50bps cut
- NZD/USD is rebounding from 2020 lows as the spot is challenging the 0.6330 resistance.
- Fed cuts policy rate by 50 basis points to 1%-1.25% in an emergency move.
NZD/USD daily chart
Kiwi/Dollar is trading in a bear trend while bouncing from the 2020 lows as the quote is below the main SMAs. However, the USD selloff could lead to more gains especially on a break above the 0.6330 level which could lead to a potential advance towards the 0.6385 and 0.6450 levels. Support is seen near the 0.6250 level and the 0.6200 figure.
Additional key levels