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

• NZD/USD  eased slightly on Wednesday as market focus   turned to upcoming Federal Reserve's policy decision and New Zealand’s GDP figures.

•The U.S. Federal Reserve meets Wednesday with no policy changes expected, but markets will focus on Chair Jerome Powell’s remarks on trade policy, the economy, and recent market movements.

• On the data front, New Zealand posted a seasonally adjusted current account deficit of NZ$5.9 billion in the fourth quarter of 2024, Statistics New Zealand said on Wednesday.

•Looking Ahead, New Zealand's fourth-quarter GDP is set for release on Thursday. New Zealand's GDP is expected to have grown 0.4% in Q4, slightly above the RBNZ’s 0.3% forecast, according to economists.

• At GMT 05:59, The Kiwi dollar  was last  trading down  0.15% to $0.5811 against greenback.

•  Immediate resistance is located at 0.5823 (50% fib); any close above will push the pair towards 0.5874(Higher BB ).

•  Support is seen at 0.5735 (38.2%fib) and break below could take the pair towards 0.5694 (March 14th low).

 Recommendation: Good to buy  around 0.5800, with stop loss of 0.5740 and target price of 0.5860