FxWirePro: NZD/USD maintains bullish bias with focus on 0.5900

• NZD/USD advanced on Tuesday as the greenback softened ahead of the release of U.S. third-quarter GDP data.

  • The Q3 GDP advance estimate is expected to show the economy expanding at an annualized 3.2%, reinforcing the narrative of resilient U.S. growth.

•Alongside GDP, October durable goods orders are forecast to fall 1.5%, reflecting softer demand for big-ticket items amid tighter financial conditions.

• U.S. November industrial production and December consumer confidence also due Tuesday

• Gold and oil prices surged as the U.S.–Venezuela situation deteriorated, boosting   energy demand.

 •  Immediate resistance is located at 0.5820(50%fib), any close above will push the pair towards 0.5850(Higher BB).

•  Support is seen at 0.5770(SMA 20) and break below could take the pair towards 0.5721 (61.8%fib).

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