• NZD/ USD retreated from multi-week highs on Thursday as investors digested mostly dovish U.S. Federal Reserve minutes .
• Fed officials last month leaned strongly toward an interest rate cut, with several ready to reduce borrowing costs immediately, according to minutes from the July 30-31 meeting released on Wednesday.
• Traders are eagerly awaiting Fed Chair Jerome Powell's Friday speech at Jackson Hole, Wyoming, where he's expected to discuss the case for interest rate cuts.
• NZD/ USD softened, leaving it down 0.15% at $1.0717 after reaching multi-week highs.
• Immediate resistance is located at 0.6177 (Aug 21st high), any close above will push the pair towards 0.6200 (23.6%fib).
• Support is seen at 0.6132 (38.2%fib) and break below could take the pair towards 0.6083(50%fib).
Recommendation: Good to buy around 0.6140 with stop loss of 0.6070 and target price of 0.6230
