FxWirePro: NZD/USD softens slightly ahead of RBNZ policy meeting

• NZD/USD eased  slightly on Tuesday   as investors shifted their focus to   Reserve Bank of New Zealand's policy meeting on Wednesday.

• The Reserve Bank of New Zealand is set to hold its first meeting of the year on Wednesday and is widely expected to keep rates unchanged at 2.25% after signalling the end of its easing cycle last year.

• Attention will be on whether the Reserve Bank of New Zealand retains mid-2027 as the expected timing for tightening and on the outlook from Governor Anna Breman.

• Anna Breman has pushed back against expectations of early tightening, saying it is driving up mortgage rates and slowing the housing market recovery.

•Markets imply a 68% chance a hike could come as soon as September this year, and are fully priced for a move to 2.5% by October.

•  Immediate resistance is located at 0.6087(23.6%fib), any close above will push the pair towards 0.6119(Higher BB).

•Support is seen at 0.6011 (SMA 20) and break below could take the pair towards 0.5990(38.2%fib).

 Recommendation: Good to buy around 0.6020 with stop loss of 0.5930 and target price of 0.6120