• NZD/ USD traded near 0.6000 level on Thursday as dollar held firm traders tempered U.S. rate cut expectation and considered the possibility of a second Trump presidency.
• the Reserve Bank of New Zealand Governor Adrian Orr said on Thursday that low and stable inflation is now back in sight in New Zealand, with the central bank keeping an eye on firms' pricing intentions.
• This bolstered expectations for a significant rate cut in November, with swaps pricing in a 28% chance of a 75 basis point move, while a half-point cut is fully expected.
•The technical outlook remains bearish, indicating the potential for a more significant decline. The fourteen-day momentum is negative, further supporting the likelihood of a larger drop
• Immediate resistance is located at 0.6033(5SMA), any close above will push the pair towards 0.6062(38.2%fib).
• Support is seen at 0.5596 (23.6%fib) and break below could take the pair towards 0.5869 (July 30th low).
Recommendation: Good to buy around 0.6040 with stop loss of 0.6100 and target price of 0.5950


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