• NZD/USD edged higher on Tuesday as markets braced for a hawkish cut from the US Federal Reserve on Wednesday.
• Global focus remains on the FOMC decision at 1900 GMT on Wednesday; while a 25 bps rate cut is widely expected.
• Attention locally turns to comments from RBNZ Governor Anna Breman, who is scheduled to speak at an RBNZ-hosted media breakfast on Wednesday, with markets alert for any guidance on the policy outlook
• Data-wise, New Zealand’s November electronic card retail sales are due on December 11, with investors looking to see whether spending momentum improves from the prior +0.2% m/m and +0.8% y/y readings.
• Immediate resistance is located at 0.5818(Higher BB), any close above will push the pair towards 0.5850(61.8%fib).
• Support is seen at 0.5766(50%fib) and break below could take the pair towards 0.5690(SMA 20).
Recommendation: Good to buy around 0.5770, with stop loss of 0.5700 and target price of 0.5860
