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• NZD/USD firmed on Monday as latest rate cut by China lifted risk sentiment.
• China lowered its benchmark lending rates at the monthly fixing on Monday, providing a boost to the market.
•This move follows a reduction of other policy rates last month, which is part of a broader package of stimulus measures aimed at reviving the economy.
•The pair remains bullish and might gain towards 0.6150.The pair has seen a 0.6069 -0.6084 range on Monday.
• Immediate resistance is located at 0.6086 (38.2%fib), any close above will push the pair towards 0.6113 (50%fib).
• Strong support is seen at 0.6070 (SMA 5) and break below could take the pair towards 0.6055 (23.6%fib).
Recommendation: Good to buy around 0.6070, with stop loss of 0.6000 and target price of 0.6140
