FxWirePro: NZD/USD retreats slightly but trend is still bullish

• NZD/USD eased  slightly  on Friday  as   traders assessed the impact of Donald Trump's presidency and its implications for the U.S. interest rate outlook.

• Trump's victory in the U.S. presidential election has stoked fears that his threat to impose tariffs, especially those on China, would impact  market economies which rely on China as their top trading partner.

• At the end of its two-day policy meeting on Thursday, the Federal Reserve cut interest rates by 25 basis points as anticipated, but indicated a careful and measured approach to any future rate cuts.

•Traders now see a 71% chance of another 25-bps cut in December, in what could be the third reduction this year.
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• At (GMT 05:29) Kiwi dollar was trading at down  0.22 % at $0.6011 against the U.S. dollar. 

•  Immediate resistance is located at 0.6057(50%fib), any close above will push the pair towards 0.6085 (Oct 21st high).

•  Support is seen at 0.6000 (38.2%fib) and break below could take the pair towards 0.5930(38.2%fib).

 Recommendation: Good to buy around 0.5990 with stop loss of 0.5900 and target price of 0.6080