• NZD/USD steadied around 0.5750 on Monday as weakened dollar after economic data fuelled worries over the U.S. growth outlook.
• U.S. business activity nearly stalled in February due to concerns over tariffs and federal spending cuts, according to data released on Friday. Meanwhile, U.S. consumer sentiment fell more than expected to a 15-month low, and inflation expectations surged.
• Markets will focus on Friday’s Personal Consumption Expenditures (PCE) data, the Fed's preferred inflation measure, for clues on the central bank's interest rate path.
• At GMT 06:36, The kiwi dollar was last trading up 0.30% to $0.5752.
• Immediate resistance is located at 0.5777(38.2%fib), any close above will push the pair towards 0.57822(Dec12th high).
• Support is seen at 0.5726(50%fib) and break below could take the pair towards 0.5676 (61.8%fib).
Recommendation: Good to buy around 0.5740 with stop loss of 0.5650 and target price of 0.5810
