FxWirePro: NZD/USD ticks up but bears are not done yet

• NZD/USD edged up against the U.S. dollar on Friday as greenback weakened amid trade frictions and signs of slowing U.S. growth.

•The dollar index is on track for its biggest weekly drop in almost three months, with the extended government shutdown halting important economic reports.

• Trade tensions between Beijing and Washington escalated overnight, as China accused the U.S. of fueling panic over rare earth controls and rejected White House calls to ease them.

• U.S. Federal Reserve Governor Christopher Waller voiced support for another rate cut due to labour market concerns.

•Investors are expecting a 25-basis-point reduction at the Fed's October 29-30 meeting and another reduction in December.

•  Immediate resistance is located at 0.5690(38.2%fib), any close above will push the pair towards 0.5781(SMA 20).

•  Support is seen at 0.05682 (23.6%fib) and break below could take the pair towards 0.5664(Lower BB).

 Recommendation: Good to sell around 0.5750 with stop loss of 0.5800 and target price of 0.5690