FxWirePro: NZD/ USD drifts lower as greenback finds broad support

• NZD/ USD eased on Wednesday    as dollar held firm as shifting expectations of the Federal Reserve being less aggressive in its easing.

• A series of strong economic reports from the U.S. has diminished expectations for aggressive monetary easing by the Federal Reserve, leading to a rise in the value of the dollar.

• GMT 05:19,  the Kiwi dollar dipped 0.1% to $0.6036, following a 0.2% rebound overnight that helped it recover from a two-month low of $0.6020.

• Technical signals are bearish  as RSI is  up at 36, moving averages are trending south

• Immediate resistance is located at 0.6048(5SMA), any close above will push the pair towards 0.6072(38.2%fib).

• Support is seen at 0.6022 (23.6%fib) and break below could take the pair towards 0.6000(Psychological level ).

Recommendation: Good to buy around 0.6050 with stop loss of 0.6100 and target price of 0.5950