FxWirePro: NZD/USD edges higher amid dollar weakness

• NZD/USD edged higher  on Monday   as the U.S. dollar weakened amid global trade tensions and concerns over the U.S. economy's growth outlook.

•  Kiwi dollar also benefited from upbeat economic data from China, a crucial trading partner for New Zealand.

• Chinese retail sales growth picked up slightly in February, according to official data released on Monday. This comes ahead of a news conference where policymakers are expected to announce additional measures to support a consumer sector that has been relatively sluggish.

• New Zealand's GDP figures for the December quarter is set to be released on Thursday, will be closely watched for indications of growth trends and how New Zealand's economy is responding to domestic and global challenges.

• At GMT 05:55, The Kiwi dollar  was last  trading up 0.17% to $0.5757 against greenback.

•  Immediate resistance is located at 0.5766(38.2%fib), any close above will push the pair towards 0.5805(23.6%fib).

•  Support is seen at 0.5734(50%fib) and break below could take the pair towards 0.5703 (61.8%fib).

 Recommendation: Good to buy around 0.5740, with stop loss of 0.5680 and target price of 0.5800