• NZD/USD dollar dipped on Monday as Kiwi dollar was pressured by a rebound in the US dollar.
• The dollar rebounded after U.S. President-elect Donald Trump threatened on Saturday that BRICS countries must avoid creating or supporting a currency to replace the U.S. dollar or face 100% tariffs.
•A number of Fed officials are due to speak this week, including Fed Chair Jerome Powell on Wednesday. Traders currently put the odds of a quarter-point reduction at about 66%.
•Meanwhile, New Zealand has cut rates by 125 basis points to 4.25% and markets imply a slew of cuts in the new year with rates reaching 3.35% late next year.
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• At (GMT 08:23) Kiwi dollar was trading down at 0.33% at $0.5904 against the U.S. dollar.
• Immediate resistance is located at 0.5941(38.2%fib), any close above will push the pair towards 0.6000 (Psychological level).
• Support is seen at 0.5859(23.6%fib) and break below could take the pair towards 0.5798(Lower BB).
Recommendation: Good to sell around 0.5910 with stop loss of 0.600 and target price of 0.5920