NZD/USD consolidates near 0.6100 after RBNZ cuts rates with dovish tilt

NZD/USD remains range-bound between 0.6080-0.6120 following the Reserve Bank of New Zealand's anticipated rate cut and dovish forward guidance. The RBNZ lowered its Official Cash Rate by 25 basis points to 4.75%, in line with market expectations, while signaling potential for further easing if economic conditions warrant. The kiwi dollar showed limited reaction, having already priced in the monetary policy adjustment. Governor Orr emphasized concerns about slowing domestic growth and persistent disinflationary pressures, suggesting the central bank's easing cycle may extend through 2025. Technical analysis shows NZD/USD trapped between the 50-day moving average at 0.6125 (resistance) and horizontal support at 0.6080. A decisive break below support could target 0.6050, while renewed USD weakness might push the pair toward 0.6150. Traders await tomorrow's New Zealand employment data for fresh directional cues.