• NZD/USD traded near two month low on Tuesday as dollar firmed buoyed by a rise in U.S. bond yields.
• The dollar has strengthened for three weeks in a row, driven by a streak of positive economic data
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• At (GMT 01:54) Kiwi dollar was trading at up 0.09% at $0.6063 against the U.S. dollar.
• The technical outlook remains bearishand points to eventual bigger gains, fourteen-day momentum is negitive, reinforcing the scope for a bigger drop .
• Immediate resistance is located at 0.6084(5SMA), any close above will push the pair towards 0.6114(38.2%fib).
•Support is seen at 0.6015 (23.6%fib) and break below could take the pair towards 0.5958 (Lower BB ).
Recommendation: Good to sell around 0.6070, with stop loss of 0.6120 and target price of 0.6000
