NZDUSD is up over 1% in trading today. What is the next key target for traders?

NZDUSD rose more than 1% after the Reserve Bank of New Zealand delivered a 25-basis-point rate hike, but the initial surge faded before buyers re-entered near the 200-hour moving average. The pair’s rebound has been supported by improved risk sentiment and stronger equity markets, and it has now broken above a key resistance zone at 0.5719-0.5726. The next major technical hurdle is the 38.2% retracement of the June decline near 0.57658, reinforced by the June 11 swing low at 0.5768. A sustained break above 0.5768-0.5777 would strengthen the bullish outlook, while failure there could trigger a pullback toward former resistance at 0.5723, now support.