• NZD/ USD scaled fresh peak on Wednesday as buoyant risk appetite and weaker dollar benefited kiwi dollar.
• Kiwi was also supported by a series of stimulus measures implemented by China, New Zealand's largest trading partner.
•Dollar came under pressure after downbeat U.S. consumer confidence data, with growing bets of another outsized U.S. rate cut in November adding to headwinds for the greenback.
• The technical outlook remains bullish and points to eventual bigger gains, Fourteen-day momentum is positive, reinforcing the scope for a bigger gains .
• Immediate resistance is located at 0.6350(23.6%fib), any close above will push the pair towards 0.6375(Higher BB).
• Support is seen at 0.6279 (38.2%fib) and break below could take the pair towards 0.6223(50%fib).
Recommendation: Good to buy around 0.6320 with stop loss of 0.6250 and target price of 0.6390
