• NZD/USD slipped lower on Wednesday as dollar attracted bids as investors picked up on bets of a victory by Donald Trump.
• Dollar rose across the board after online prediction markets started to favour Republican candidate Trump over Democratic nominee Vice President Kamala Harris for the nation's top job.
• Investors are now focused on the upcoming two-day meeting of the Federal Reserve, where a more cautious 25-basis-point rate cut is widely anticipated.
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• At (GMT 05:24) Kiwi dollar was trading at down 0.89 % at $0.5948 against the U.S. dollar.
• From a technical viewpoint, the moving averages are pointing downwards, while the RSI is strongly bearish at 34.
• Immediate resistance is located at 0.5974(5SMA), any close above will push the pair towards 0.6016(38.2%fib).
• Support is seen at 0.5939(23.6%fib) and break below could take the pair towards 0.5900(Psychological level).
Recommendation: Good to sell around 0.5960 with stop loss of 0.6020 and target price of 0.5870
