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NZD/USD holds near one-month highs as NZ policy stays hawkish
The pair was last around 0.5842, supported by NZD strength while a recovering US dollar limits further upside.
NZD/USD traded in a narrow range on Thursday, holding near one-month highs around 0.5842, as a hawkish Reserve Bank of New Zealand stance supported the Kiwi while a firmer US dollar capped gains, FXStreet reported.
FXStreet said the US Dollar Index, which tracks the greenback against a basket of six major currencies, was near 100.70 after slipping to 100.35 on Wednesday, its lowest level since June 18, following softer-than-expected US inflation data.
Technically, the pair stayed above clustered 50-day, 100-day, and 200-day simple moving averages between 0.5807 and 0.5831, while the RSI read 63 and the MACD remained above zero, pointing to bullish momentum without overbought conditions.
On the downside, FXStreet flagged support at the 100-day SMA near 0.5831, then the 200-day SMA near 0.5819 and the 50-day SMA around 0.5807, with lower horizontal supports at 0.5770 and 0.5700, while initial resistance was seen near 0.5870.
Latest closeDollar index 100.50 ▼0.4%