Not above the equator. What happens is an orbiting object orbits the common center of mass, which happens to be close to the center of the earth for a satellite. So for an orbit to cross above the equatorial plane, it also must descend below that plane as well. All geosynchronous orbit periods match the period of the Earth's rotation. A geosynchronous orbit that is orbiting on the equatorial plane (and in the same direction the Earth is turning) is also called a geostationary orbit.
All Geostationary orbits are geosynchronous. Not all geosynchronous orbits are geostationary.