• NZD/USD consolidates around 0.5889 on Tuesday as traders await fresh signals on U.S. political developments and further guidance on Federal Reserve policy
•Market participants are looking for any indications that could impact the Fed's next moves on interest rates, especially in light of ongoing concerns about inflation and economic growth.
•The lack of major economic data today has left the pair range-bound as traders stay on edge for potential market-moving news.
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• At (GMT 06:21) Kiwi dollar was trading at up 0.22 % at $0.5866 against the U.S. dollar.
• The technical outlook remains bearish and points to eventual bigger drop, fourteen-day momentum is negitive.
• Immediate resistance is located at 0.5898(38.2%fib), any close above will push the pair towards 0.5889(11SMA).
• Support is seen at 0.5841(23.6%fib) and break below could take the pair towards 0.5831 (Lower BB).
Recommendation: Be on sidelines
