The dovish Fed and the resulting slide in Treasury yields are boding well for the NZD. New Zealand GDP data released in early Asia, possibly added to the bid tone around the Kiwi dollar. The US-China trade tensions may cap gains. NZD/USD is currently trading at 0.6930 – a level last seen on Feb. 1 – having cleared the resistance of the trendline connecting the Dec. 4 and Feb. 1 highs earlier today. The pair is benefiting from the post-Fed slide in the treasury yields and the broad-based selling in the US dollar. For instance, the 10-year treasury yield fell ten basis points to 2.52 percent, the lowest level since Jan. 18. Meanwhile, the two-year yield also fell ten basis points to 2.37 percent and is currently trading at 2.4 percent. New Zealand’s GDP data released in early Asia likely strengthened the bid tone around the NZD as well. The economy expanded 0.6 percent quarter-on-quarter in the three months to December, as analysts had expected, and double the 0.3 percent pace of the third quarter, according to Statistics New Zealand. Looking forward, the pair may climb the immediate resistance at 0.6842 (Feb. 1), as the treasury yields look set to extend losses. A sustained break, however, may remain elusive if equities turn red in response to reports stating that US tariffs on Chinese imports could remain in place for a substantial period of time. So far, however, there are no signs of stress in the equities with the futures on the S&P 500 reporting a 0.28 percent rise. Technical Levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next WTI: Bulls testing the 60 handle and key resistance FX Street 4 years The dovish Fed and the resulting slide in Treasury yields are boding well for the NZD. New Zealand GDP data released in early Asia, possibly added to the bid tone around the Kiwi dollar. The US-China trade tensions may cap gains. NZD/USD is currently trading at 0.6930 - a level last seen on Feb. 1 - having cleared the resistance of the trendline connecting the Dec. 4 and Feb. 1 highs earlier today. The pair is benefiting from the post-Fed slide in the treasury yields and the broad-based selling in the US dollar. For instance, the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.