FxWirePro: NZD/USD edges higher as looming U.S. shutdown drags greenback

• NZD/USD edged higher on Tuesday as the dollar softened amid fears that a U.S. government shutdown could delay important economic releases, including the jobs report.

•Government funding could lapse at midnight Tuesday as Republicans and Democrats struggle to reach a last-minute spending deal, with little progress reported in a White House meeting with President Trump.

•Friday’s payrolls report, key for Federal Reserve policy decisions, could be delayed, leaving the central bank without timely labor market data.

• On the data front, New Zealand’s business confidence held steady in September, but an ANZ Bank survey on Tuesday indicated that firms anticipate improved business conditions ahead despite the sluggish economy.

•  Immediate resistance is located at 0.5820(38.2%fib), any close above will push the pair towards 0.5868(50%fib).

•  Support is seen at 0.5759(23.6%fib)and break below could take the pair towards 0.5743(Lower BB).

 Recommendation: Good to sell around 0.5800 with stop loss of 0.5850 and target price of 0.5730