• NZD/USD edged higher on Wednesday as kiwi dollar was supported by cautious optimism that the Iran conflict may move toward a resolution, improving overall market sentiment.
•Comments from Donald Trump that the U.S. could bring the war to an end within two to three weeks helped lift risk appetite.
• U.S. Secretary of State Marco Rubio added to the positive tone, saying the U.S. can see the “finish line” and highlighting the possibility of a direct meeting.
•Overall, NZD/USD remains driven by geopolitical headlines, with upside limited by lingering risks despite improving sentiment.
• The RBNZ's next meeting is on April 8 and is considered certain to hold steady while citing the uncertainty caused by the war.
• Immediate resistance is located at 0.5793(50%fib), any close above will push the pair towards 0.5835 (SMA 20).
•Support is seen at 0.5697(38.2%fib) and break below could take the pair towards 0.5675(Lower BB).
Recommendation: Good to sell around 0.5770 with stop loss of 0.5850 and target price of 0.5700
