• NZD/USD steadied on Thursday as kiwi dollar was supported by rekindled hopes of a breakthrough in the U.S.–China trade dispute.
• Scott Bessent, U.S. Treasury Secretary, said Wednesday that the U.S.-China tariffs are unsustainable and need to be reduced before talks resume, but Trump won't unilaterally lower them.
• This week, markets have been focused on the potential threat to the Fed’s independence, sparked by Trump’s sustained criticism of Chair Powell for not cutting rates since he took office.
• On the data front, New Zealand’s consumer confidence climbed in April, restoring strength to a trend that had shown signs of faltering, ANZ-Roy Morgan data showed.
• The consumer confidence index climbed to 98.3 in April, up from 93.2 in March, signaling a shift towards optimism.
• At GMT 06:14, The New Zealand's dollar was last trading up 0. 11% to $0.5953
• Immediate resistance is located at 0.523.6%fib), any close above will push the pair towards 0.6072 (Higher BB).
• Support is seen at 0.5928 (38.2%fib) and break below could take the pair towards 0.5856(50%fib).
Recommendation: Good to buy around 0.5930 with stop loss of 0.5860 and target price of 0.6080
