• NZD/USD steadied on Friday as kiwi dollar was boosted by higher commodity prices and weaker greenback.
• Additionally, Thursday's reports that President Xi Jinping of China stressed the need to meet economic targets also gave a lift to the kiwi dollar, given that China is New Zealand's largest trading partner.
.• This week, the kiwi dollar has benefited from improved risk appetite, reflected in rising global equities and commodity prices, alongside a reduction in fears of a U.S. economic slowdown..
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• At (GMT 06:01) Kiwi dollar was trading at up 0.01% at $0.6179 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 0.6193(38.2%fib), any close above will push the pair towards 0.6229(Sep 5th high).
•Support is seen at 0.6157 (Sep 6th low) and break below could take the pair towards 0.6143(50%fib).
Recommendation: Good to buy around 0.6170, with stop loss of 0.6120 and target price of 0.6250
