• The NZD/USD pair recovered above 0.5800 level on Thursday as investors reacted to a benign U.S. consumer inflation report.
• Wednesday's November US CPI report showed a 0.3% rise, the largest increase since April, following four consecutive months of 0.2% gains.
• Later today, market participants will get additional input on U.S. inflation data with the release of the Producer Price Index (PPI).
•At GMT 06.16,the kiwi dollar was up 0.41% at 0.5806 against greenback after hitting a two-year low of $0.5763 overnight
• Immediate resistance is located at 0.5834(38.2%fib), any close above will push the pair towards 0.5868(Dec 10th high).
• Support is seen at 0.5766(23.6%fib) and break below could take the pair towards 0.5750(Lower BB).
Recommendation: Good to sell around 0.5820, with stop loss of 0.5900 and target price of 0.5730
