NZD/USD: Bulls fight back control, back near 0.7300

The Kiwi witnessed volatile moves in the overnight trades, and made a solid comeback in the Asian session this Thursday, as the greenback remain broadly sold-off into a non-event FOMC outcome.

Currently, the NZD/USD pair rises +0.21% to 0.7296, having posted fresh session highs at 0.7309 last hour. The major reversed FOMC-backed gains and slipped sharply in the opening trades after reports of cases of cattle tuberculosis in New Zealand hit the wires, and markets began to speculate that the news could be behind the drop in the prices seen pre-Fed announcement.

However, the spot quickly regained ground and bounced sharply amid renewed weakness in the treasury yields alongside the greenback. While fresh update on the NZ cattle TB cases also brought some respite to the bulls. The NZ Herald noted that OSPRI (NZ organization concerned with eradicating bovine TB) immediately introduced measures to restrict animal movements in the area.

NZ cattle TB update: OSPRI introduced measures to restrict animal movements

Next on tap for the major remains the US jobless claims data due to be reported in the NA session. In the meantime, the NZD/USD pair will remain at the mercy of the USD dynamics and risk trends.

NZD/USD Levels to consider

To the upside, the next resistance is located at 0.7313 (previous highs), above which it could extend gains to 0.7350 (psychological levels) and from there to 0.7400 (zero figure). To the downside immediate support might be located at 0.7274 (10-DMA) and from there to at 0.7241 (daily S1), below which 0.7207 (20-DMA) would be tested.