• NZD/USD edged higher on Tuesday as investors continued to assess the potential timing of rate hikes from the RBNZ
• RBNZ Governor Anna Breman recently signaled that rate hikes are off the table for now, reinforcing expectations of an accommodative policy stance..
• The antipodean currency is set for its best month since June and is on track for an annual gain of nearly 4%, snapping a four-year streak of declines.
• Swaps suggest rates will stay on hold until the second half of next year, with a hike no longer fully priced in after September.
• Immediate resistance is located at 0.5846(Higher BB), any close above will push the pair towards 0.5884(38.2%fib).
• Support is seen at 0.5741(38.2%fib) and break below could take the pair towards 0.5737(Lower BB).
Recommendation: Good to buy around 0.5800, with stop loss of 0.5730 and target price of 0.5880
