• 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
