• NZD/USD strengthened on Friday after data showed New Zealand consumer confidence rose in November.
•Consumer confidence in New Zealand rose in November, ANZ-Roy Morgan data showed on Friday, with falling interest rates and inflation both cited for the rise..
•RBNZ cut its benchmark interest rate by 50 basis points to 4.25% on Wednesday, with further cuts likely at its next meeting in February..
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• At (GMT 06:23) Kiwi dollar was trading up at 0.42% at $0.5890 against the U.S. dollar.
• Immediate resistance is located at 0.5920(38.2%fib), any close above will push the pair towards 0.5979 (50%fib).
• Support is seen at 0.5844(23.6%fib) and break below could take the pair towards 0.5798(Lower BB).
Recommendation: Good to sell around 0.5920, with stop loss of 0.6050 and target price of 0.5900
