NZD/USD edges higher, NZ inflation expectations inch lowerNZD/USDOANDA:NZDUSDOANDAThe New Zealand dollar showed some strong gains earlier but couldn't consolidate. After rising as much as 0.50%, NZD/USD has retracted and is trading at 0.5939 in the North American session, up 0.17% on the day. New Zealand's inflation expectations for the next two years ticked lower in the third quarter, falling to 2.28% from 2.29% in Q2. As well, one-year inflation expecations dipped to 2.37% from 2.41%. These are not large decreases by any stretch, but the updated figures indicate that businesses expect inflation to ease slightly. The readings are within the Reserve Bank of New Zealand's inflation target band of 1%-3%. Actual inflation rose by 2.7% in the second quarter, up from 2.5% in Q1. Again, this level is within the central bank's target band, where it has remained for a fourth consecutive quarter. Inflation may be a bit high for the Reserve Bank's liking, but it has made clear that it plans to continue lowering rates. The RBNZ held the benchmark rate at 3.25% last month but this was a "dovish hold" as the central bank said it expected to loosen policy if medium-term inflation continued to ease as expected. NZD/USD tested resistance at 0.5950. Next, there is resistance at 0.5971 0.5921 and 0.5900 are providing support