Holds Gains In Volatile Post-FOMC Dealing, GDP On Tap

NZD/USD prints at $0.6205/10, the pair rose ~0.9% yesterday.

• The pair firmed through the European session as broad based USD weakness extended on DXY breaching its 100-Day MA.
• Resistance was seen at the 200-Day EMA ($0.6234), and the pair pared gains in volatile trade as the Fed held rate as expected with a hawkish set of projections. A further batch of greenback weakness, as Powell dismissed the "skip" thesis declaring every meeting live, saw NZD/USD firm above $0.62 and gains consolidated for the remainder of the session.
• Bulls immediate focus is on breaching the 200-Day EMA, from here they can target the high from May 23 ($0.6303). Bears first look to target the 20-Day EMA ($0.6139).
• AUD/NZD fell ~0.5%, the cross sits at $1.0950/60 its lowest level since last weeks RBA meeting.
• Cross asset wise; S&P500 finished up 0.1% and DXY fell 0.3%. 2 Year US Tsy Yields rose 2bps.
• May House Sales fell 0.4% Y/Y, the prior read was -15.3%.
• On the wires this morning we have Q1 GDP, a fall of 0.1% Q/Q is expected.