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NZDUSD Bullish Technical and Fundamental Analysis

NZDUSD Bullish Technical and Fundamental Analysis

As market mood gradually improves, the NZD/USD pair finds buying demand around 0.6200 and further more it is looking to reach 06300 Investors' willingness to take risks is increased by China's positive Retail Sales figures. The US currency depreciates marginally ahead of Fed policy decisions.

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As the sell-off continues, the NZD/USD pair slips to 0.6040 on Wednesday in the late Asian session. Investor caution ahead of the Federal Reserve's (Fed) interest rate decision, which is scheduled to be made public at 18:00 GMT, has put pressure on the Kiwi asset.

A decrease in investors' risk appetite is reflected in the S&P 500 futures, which saw minor losses throughout the Asian session. Ahead of Fed policy, investors remain cautious, as the US Dollar Index (DXY) steadies at roughly 103.85.

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