FxWirePro: NZD/USD extends losses, as the U.S. dollar firms

• NZD/USD continued to drop on Tuesday as the U.S. dollar gained strength ahead of the upcoming inflation data.

• Investors awaited U.S. inflation data for more clues on the size of a likely Federal Reserve interest rate cut next week.

.• The U.S. Labor Department's Consumer Price Index is expected to shhow that underlying inflation continues its slow decline toward the central bank's 2% target.
    .
• At (GMT 02:31) Kiwi dollar was trading at down  0.17 % at $0.6135 against the U.S. dollar. 

•  The technical outlook remains bullish and points to eventual bigger gains, Fourteen-day momentum is positive, reinforcing the scope for a bigger gains  .
 
•  Immediate resistance is located at 0.6156(Daily high), any close above will push the pair towards 0.6185(38.2%fib).

•  Support is seen at 0.6121 (50%fib) and break below could take the pair towards 0.6050(61.8%fib).

 Recommendation: Good to sell around 0.6140 with stop loss of 0.6200 and target price of 0.6060