• NZD/USD edged higher on Thursday as kiwi dollar recovered after sliding 1.4% overnight following a dovish hold by the Reserve Bank.
•The RBNZ kept its benchmark official cash rate (OCR) at 2.25% on Wednesday and said monetary policy would stay accommodative for some time to foster an economic recovery.
• RBNZ revised OCR track, however, implies the next move in policy rates will be up and there is some possibility that it could happen by the year end.
• Following the decision, markets scaled back expectations for an imminent rate hike, pushing the likelihood of policy tightening further into late 2026..
•Meanwhile, Karen Silk, Assistant Governor at the Reserve Bank of New Zealand, said on Thursday the next move in interest rates will likely be up, though uncertainty over the path of inflation and consumer demand meant there are still risks on both sides .
• Immediate resistance is located at 0.5998(38.2%fib), any close above will push the pair towards 0.6051 (Feb 18th high).
• Support is seen at 0.5941 (Lower BB) and break below could take the pair towards 0.5918(50%fib).
Recommendation: Good to buy around 0.5960 with stop loss of 0.5900 and target price of 0.6060
