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FxWirePro: NZD/USD outlook weaker on renewed downside pressure

• The NZD/USD dipped on Tuesday as dollar firmed ahead of U.S. Federal Reserve rate decision. • All eyes will be on the Fed, particularly its projections for next year, with markets expecting a 25-basis-point cut on Wedn…

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FxWirePro: NZD/USD outlook weaker on renewed downside pressure
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• The NZD/USD dipped  on Tuesday as dollar firmed ahead  of U.S. Federal Reserve rate decision.

• All eyes will be on the Fed, particularly its projections for next year, with markets expecting a 25-basis-point cut on Wednesday.

• Looking ahead, New Zealand will release its third-quarter GDP data on Thursday, with another contraction expected.

•At GMT 06:23 ,the kiwi dollar was down 0.40% at 0.5757 against greenback .

•  Immediate resistance is located at 0.5792(Daily high), any close above will push the pair towards 0.5822(38.2%fib).

•  Support is seen at 0.5755 (23.6%fib) and break below could take the pair towards 0.5715(Lower BB).

 Recommendation: Good to sell around 0.5760, with stop loss of 0.5900 and target price of 0.5700

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