FxWirePro: Kiwi trades lower after FOMC and RBNZ policy 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 0.6550