• NZD/USD bounded on Monday as US dollar dipped asmarket braced for outcome for the U.S. presidential election.
• Democratic candidate Kamala Harris and Republican Donald Trump remain virtually tied in opinion polls and the winner might not be known for days after voting ends..
• Analysts believe Trump's policies on immigration, tax cuts and tariffs would put upward pressure on inflation, bond yields and the dollar, while Harris was seen as the continuity candidate.
• At (GMT 05:09) kiwi dollar was trading at up 0.70 % at $0.6605 against the U.S. dollar.
• Immediate resistance is located at 0.6022(23.6%fib), any close above will push the pair towards 0.685(38.2%fib).
• Support is seen at 0.5985 (5SMA) and break below could take the pair towards 0.5951(23.6%fib).
Recommendation: Good to buy around 0.6600 with stop loss of 0.5920 and target price of 0.6060
