• NZD/USD steadied on Wednesday as optimism for a de-escalation in US-China trade tensions and softer dollar supported kiwi dollar .
• US dollar dipped as cooler-than-expected U.S. consumer inflation data bolstering the case for Federal Reserve easing.
• Data from Labor Department showed the US consumer price index increased 0.2% last month, below expectations of economists.
• Investor attention now turns to the trade deal’s specifics and what happens after the 90-day truce.
• At GMT 06:21, the New Zealand dollar was up 0.02% to 0.5935 against the dollar.
• Immediate resistance is located at 0.5944(38.2%fib), any close above will push the pair towards 0.6039 (23.6%fib).
• Support is seen at 0.5866 (50%fib) and break below could take the pair towards 0.5817(April 14th low).
Recommendation: Good to buy around 0.5920 with stop loss of 0.5850 and target price of 0.6000
