• NZD/USD steadied on 0.6175 on Monday as investors awaited a possible U.S. interest rate cut this week, though gains were capped by weaker China data and persistent demand worries.
.• New Zealand's second-quarter GDP data, set for release on Thursday, is expected to show a 0.4% contraction, bolstering the case for anticipated aggressive rate cuts.
• At (GMT 04:48) Kiwi dollar was trading at up 0.26% at $0.6173 against the U.S. dollar.
• 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 0.6202(38.2%fib), any close above will push the pair towards 0.6258(23.6%fib).
•Support is seen at 0.6149 (50%fib) and break below could take the pair towards 0.6133(Lower BB).
Recommendation: Good to buy around 0.6180, with stop loss of 0.6120 and target price of 0.6270
