FxWirePro: NZD/USD eases below 0.5700 level, bears keep the advantage

• NZD/USD edged lower  on Monday as weak PMI data from China and stronger greenback weighed on the kiwi dollar.

•The dollar strengthened after President Donald Trump announced plans to impose tariffs and sanctions on Colombia, reigniting concerns over global trade.

• China's industrial activity unexpectedly dropped in January, according to an official factory survey released on Monday.

• The volatility across asset classes marks the start of a crucial week for markets, with the Federal Reserve and European Central Bank, among others, set to decide on monetary policy.
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• At (GMT 08:57) Kiwi dollar was trading at down  0.36% at $0.5689 against the U.S. dollar. 
 
•  Immediate resistance is located at 0.6714(50%fib), any close above will push the pair towards 0.5793(50%fib).

•Support is seen at 0.5654 (38.2%fib) and break below could take the pair towards 0.5558  (23.6%fib).

 Recommendation: Good to sell  around 0.5700, with stop loss of 0.05800 and target price of 0.5630