• NZD/USD -1.0% from Wed 0.58345 high after Fed officials flag FFR hikes

• Better than anticipated NZ GDP update giving some relief to the pair

• NZ Q1 production-based GDP +0.8% q/q (poll +0.8%), +1.5% y/y (poll +1.1%)

• FOMC left FFR range unchanged, but 9-policymakers expect to hike this year

• 2-year UST yields +14 bps, DXY +0.8% and U.S. equities soften in response

• Iran & U.S. both sign MOU, will work on peace agreement detail over 60 days

• NZD targets 0.5681 support after Mon's failure to break above 0.5867 55-DMA

• Range NZ 0.57535-0.5808, support 0.5680 5580, resistance 0.5990-95 0.6012
NZD Daily 55-DMA

(James Connell is a Reuters market analyst. The views expressed are his own.)