• NZD/USD was little changed on Friday as investors continued to gauge the potential timing of rate hikes from the Reserve Bank of New Zealand.
•Recent data showed the economy rebounded in the third quarter, reinforcing signs of a modest recovery following a prolonged period of weakness.
•RBNZ Governor Anna Breman last month said that interest rates are likely to remain at their current settings for some time.
•Meanwhile, Markets are bracing for U.S. President Donald Trump to nominate a new Fed chair when Jerome Powell’s term ends in May, a move that could tilt monetary policy toward lower interest rates.
• Economic data including the U.S. payrolls report and jobless data are due next week and will provide clues on the health of the labour market and where U.S. rates may end up this year.
• Immediate resistance is located at 0.5781(50%fib), any close above will push the pair towards 0.5791(SMA 20).
• Support is seen at 0.5733(Lower BB) and break below could take the pair towards 0.5695 (38.2%fib).
Recommendation: Good to sell around 0.5770, with stop loss of 0.5850 and target price of 0.5700


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