FxWirePro: NZD/USD edges higher but outlook bearish

• The NZD/USD edhed higher  on Monday as investors digested  latest data from its largest trading partner China.

• Data showed that China's industrial output increased by 5.4% year-on-year in November, up from 5.3% growth in October.

• Data showed that China's industrial output rose 5.4% in November compared to a year earlier, accelerating from 5.3% growth in October.

• Looking ahead, New Zealand will release its half-yearly fiscal update on Tuesday, followed by third-quarter GDP data on Thursday, which is expected to show another contraction.

• AtGMT 06:13 , the Kiwi dollar was up 0.35%  at $0.5781 against greenback, after losing 1.2% last week.

•  Immediate resistance is located at 0.5806(38.2%fib), any close above will push the pair towards 0.5850(50%fib).

•  Support is seen at 0.5757 (23.6%fib) and break below could take the pair towards 0.5729(Lower BB).

 Recommendation: Good to sell around 0.5800, with stop loss of 0.5900 and target price of 0.5720