Buyers extended support as upbeat New Zealand GDP held the optimism triggered through FOMC. 0.6920 resistanceline still becomes a challenge for bulls. NZD/USD surged more than 30 pips to after Statistics New Zealand released fourth-quarter gross domestic product (GDP) figures during early Asian session on Thursday. The pair maintains its early-day high to seven-week top after the US Fed meeting results. US Jobless claims and Philadelphia Fed manufacturing survey are in focus now. New Zealand fourth quarter (Q4) 2018 GDP (QoQ) matched 0.6% market consensus versus 0.3% prior while the growth indicator rose 2.3% on a yearly basis against 2.5% forecast and 2.6% during the Q4 2017. Ahead of the GDP result, the NZD/USD pair rallied to the highest in seven weeks as the US Federal Reserve disappointed greenback bulls by favoring no rate hikes during the year 2019 in its quarterly interest-rate forecast. The FOMC (Federal Open Market Committee) left headline Fed rate unchanged, as expected, whereas the Chairman Jerome Powell signaled balance sheet adjustments to end soon. Next up in the trader’s radar will be the US initial jobless claims for the week ended on March 15 coupled with Philadelphia Fed manufacturing survey results for the current month. Initial jobless claims are likely to have shrunk by 225K versus 229K prior whereas manufacturing gauge could reverse earlier -4.1 contraction figure with +4.5 number. NZD/USD Technical Analysis Unless clearing nine-month-old resistanceline, at 0.6920, chances of the NZD/SD pair’s pullback to 0.6825 can’t be denied. However, 61.8% Fibonacci retracement level of June – October decline at 0.6815, followed by 0.6800 round-figure may challenge the quote’s additional downside. Alternatively, an upside clearance of 0.6920 enables the pair to aim for 0.6970 and 0.7000 numbers to the north with 0.7020/25 and 0.7060 being next in focus. 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 CoinMarketCap to launch two crypto benchmark indices on NASDAQ, Bloomberg, Thomson Reuters, and Börse Stuttgart. FX Street 4 years Buyers extended support as upbeat New Zealand GDP held the optimism triggered through FOMC. 0.6920 resistanceline still becomes a challenge for bulls. NZD/USD surged more than 30 pips to after Statistics New Zealand released fourth-quarter gross domestic product (GDP) figures during early Asian session on Thursday. The pair maintains its early-day high to seven-week top after the US Fed meeting results. US Jobless claims and Philadelphia Fed manufacturing survey are in focus now. New Zealand fourth quarter (Q4) 2018 GDP (QoQ) matched 0.6% market consensus versus 0.3% prior while the growth indicator rose 2.3% on a yearly basis against 2.5%… 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.