<\/p>\n
\n Share:<\/span><\/p>\n The NZD\/USD pair turns sideways after correcting from the round-level resistance of 0.6300 in the European session. The Kiwi asset struggles to find a direction as investors are awaiting the release of the United States core Personal Consumption Expenditure price index (PCE) data for further guidance.<\/p>\n The market participants keenly await the underlying inflation data as it will suggest how long interest rates<\/a> should remain in the restrictive trajectory. A sticky inflation report may offer temporary cushion to the US Dollar but rising hopes of early rate cuts by the Federal Reserve (Fed) will keep it in the negative territory.<\/p>\n On the Kiwi front, Reserve Bank of New Zealand\u2019s (RBNZ) restrictive stance for the Official Cash Rate (OCR) has maintained strength in the New Zealand Dollar. RBNZ<\/a> Governor Adrian Orr said, in his commentary on Wednesday, decline in Q3 Gross Domestic Product (GDP) has made the overall situation complex. The central bank will consider more indicators<\/a> before the next interest rate decision<\/a>.<\/p>\n NZD\/USD continues to trade in a Rising Channel chart<\/a> pattern in which each pullback is considered as a buying opportunity by the market participants. The kiwi asset finds resistance while breaking above the round-level resistance of 0.6300. The 20-day Exponential Moving Average (EMA) around 0.6165 continues to provide support to the kiwi bulls.<\/p>\n The Relative Strength Index (RSI) (14) oscillates in the bullish range of 60.00-80.00, which indicates that the bullish momentum has already been triggered.<\/p>\n\n