NZD/USD stretching as USD swoons

• Kiwi lifting on fresh round of Dollar selling in overnight session.
• NZD shrugs off risk aversion in Asia markets.

The Kiwi is testing higher in the Asia trading session, looking for a foothold above the 0.7230 level.

The US Dollar is staying on the soft side following the FOMC's rate hike. The Greenback slide and equities dropped after the FOMC failed to call for an additional rate hike this year over the already expected three.

The Kiwi has been granted a brief reprieve after getting hammered last week, and has managed to shrug off the dismal Aussie jobs report that sees its antipodean partner trading lower heading into the Tokyo session. After the Reserve Bank of New Zealand's (RBNZ) hold on interest rates earlier that proved to be a non-starter, the NZD is finding some strength.

NZD/USD Levels to watch

The climb in the early overnight session sees the pair challenging resistance at yesterday's high of 0.7245, with further support at the week's swing high of 0.7260, while support fades away at the support/resistance line at 0.7185 and yesterday's low of 0.7155.