FxWirePro: NZD/USD spikes as RBNZ holds rates in split decision

• NZD/USD rose   on Wednesday after the Reserve Bank of New Zealand kept the official cash rate unchanged at 2.25%, in line with expectations, providing near-term support to the currency.

• The decision was narrowly balanced, with a 50-50 split vote and Breman casting the deciding vote, highlighting internal divergence on the policy outlook.

• The RBNZ signaled that interest rates may rise sooner and by more than previously projected in February, reinforcing a slightly more hawkish medium-term stance.

• Geopolitical tensions remain in focus, with U.S.-Iran ceasefire risks elevated following fresh U.S. strikes and renewed threats of retaliation, keeping global risk sentiment cautious.

•  Immediate resistance is located at 0.5879(Daily high), any close above will push the pair towards 0.5893(38.2%fib).

•  Support is seen at 0.5832(50%fib) and break below could take the pair towards 0.5810(Lower BB).

 Recommendation: Good to buy  around 0.5850 with stop loss of 0.5790 and target price of 0.5900