NZD/USD Steady Around 0.5785 as Traders Await Fed Decision

The pair struggled to build on earlier gains despite a mild pullback in the US dollar. Price action remained subdued, reflecting cautious positioning ahead of the Fed’s policy announcement.

Tuesday’s session saw NZD/USD confined to a narrow range, hovering around the 0.5785 level. The kiwi failed to sustain a recovery attempt from recent lows, with traders reluctant to take large bets before the central bank’s guidance.

The Federal Reserve’s decision and updated economic projections later in the week are expected to set the near-term tone for the US dollar, keeping the pair in a holding pattern.