FxWirePro: NZD/USD edges up, remains on front foot

• NZD/USD   edged higher   on Tuesday  as markets reacted to the escalating feud involving the Federal Reserve..

• U.S. dollar and Treasury yields eased amid reports that the Fed Chair Jerome Powell faces a potential criminal indictment, boosting risk-sensitive currencies..

•   Domestic data also provided support, with the NZIER Q4 survey showing capacity utilization rising to 89.8% from 89.1%.

• Market attention shifts to U.S. December CPI data due Tuesday, with a Reuters poll forecasting +0.3% month-on-month and +2.7% year-on-year inflation..

• Meanwhile, New Zealand’s economic calendar is light, with December manufacturing PMI due on Friday.

•  Immediate resistance is located at 0.5781(50%fib), any close above will push the pair towards 0.5838(Higher BB).

•Support is seen at 0.5729 (SMA 20) and break below could take the pair towards 0.5699(61.8%fib).

 Recommendation: Good to buy around 0.5770 with stop loss of 0.5650 and target price of 0.5830