FxWirePro: NZD/USD bears regain grip as greenback firms

• NZD/USD dipped on Wednesday  as greenback got a bit of a boost after minutes of the Fed's December meeting showed deep divisions among policymakers as they cut rates earlier this month..

• The U.S. Federal Reserve agreed to cut interest rates at its December meeting only after an intense and finely balanced debate over the risks facing the U.S. economy, according to minutes from the latest two-day policy session.

•  According to minutes released Tuesday, even some policymakers who backed the rate cut acknowledged the decision was finely balanced, noting they could have supported leaving the target range unchanged given the range of risks facing the U.S. economy.

• In economic projections released after the December 9–10 meeting, six officials opposed a rate cut outright, with two of them dissenting as voting members of the Federal Open Market Committee.

•  Immediate resistance is located at 0.5792(SMA 20), any close above will push the pair towards 0.5844(Higher BB).

•  Support is seen at 0.5773(50%fib) and break below could take the pair towards 0.5746 (Lower BB).

 Recommendation: Good to sell around 0.5780, with stop loss of 0.5850 and target price of 0.5700