• NZD/USD eased slightly but held near multi month high as dollar recovered some ground ahead of key US economic data.
• Investors are awaiting the U.S. PCE inflation data for fresh insights into the Federal Reserve's potential interest rate cut path.
.
• At (GMT 14:51) Kiwi dollar was trading down 0.07% at $0.6249 against the U.S. dollar.
• Technical highlight upside risks for NZD/ USD, with momentum studies, 5, 10 and 21 DMAs tracking north .
• Immediate resistance is located at 0.6256(23.6%fib), any close above will push the pair towards 0.6278 (Higher BB).
• Support is seen at 0.6189 (38.2%fib) and break below could take the pair towards 0.6131(50%fib).
Recommendation: Good to buy around 0.6240 with stop loss of 0.6180 and target price of 0.6290
