• NZD/USD edged higher on Monday but gains were limited as investors focus turned as Reserve Bank of New Zealand's rate decision.
•The RBNZ meets on Wednesday. 60% of economists in a poll expect a half-point cut to the 5.25% cash rate.
• Investors anticipate that the Reserve Bank of New Zealand will reduce the cash due to worries about sluggish economic growth and increasing unemployment.
• At GMT 03:00 ,the kiwi dollar was up 0.13% at $0.6116 after hitting its lowest since 16th September on Friday.
• Immediate resistance is located at 0.6202(38.2%fib), any close above will push the pair towards 0.6233(Oct 4th high).
• Support is seen at 0.6152 (50%fib) and break below could take the pair towards 0.6105(61.8%fib).
Recommendation: Good to sell around 0.6130 with stop loss of 0.6050 and target price of 0.6200
