FxWirePro: NZD/USD edges up, remains on front foot

• NZD/USD   edged up on Monday  as market digested nomination of Kevin Warsh as the next U.S. central bank chief.

•U.S. President Donald Trump’s choice of Warsh for Fed Chair triggered a sell-off in risky assets and drove precious metals lower on Friday, while the dollar recovered losses.

•   New Zealand's quarterly labour market data is due on Wednesday. Forecasts are centred on a 0.3% quarterly rise in employment growth, with the jobless rate likely holding steady at 5.3%.

•The Reserve Bank of New Zealand meets on February 18 and it will be the first for new Governor Anna Breman to lay out her vision for how policy might develop.

•Markets also assume the next move in New Zealand rates will be up, albeit not until July at the earliest.

•  Immediate resistance is located at 0.6086(23.6%fib), any close above will push the pair towards 0.6109(Higher BB).

•Support is seen at 0.5988 (38.2%fib) and break below could take the pair towards 0.5929(50%fib).

 Recommendation: Good to buy around 0.6000 with stop loss of 0.5920 and target price of 0.6070