FxWirePro: NZD/USD edges higher ahead of Jackson hole warsh speech

• NZD/USD  edged  higher on Friday as expectations of further Reserve Bank of New Zealand tightening   supported kiwi dollar.

• The RBNZ’s September 2 policy decision is another major focus. The central bank currently has its Official Cash Rate at 2.50%, and markets widely expect a further 25-basis-point increase at next week’s meeting..

• Expectations of additional tightening have helped underpin the kiwi, particularly as New Zealand’s inflation rate remains elevated at 4.1%..

• Meanwhile, investors are closely watching Warsh’s Jackson Hole address for signals on the Federal Reserve’s policy path. Recent comments from Fed officials, including Jeffrey Schmid and Austan Goolsbee, have highlighted persistent U.S. inflation risks, raising the stakes for Warsh’s remarks.

• A hawkish message could strengthen the U.S. dollar and weigh on NZD/USD, while a more dovish tone could boost the pair.

•  Immediate resistance is located at 0.5990(23.6%fib), any close above will push the pair towards 0.6012 (Higher BB).

•  Support is seen at 0.5926(38.2%fib) and break below could take the pair towards 0.5910(SMA 20).

 Recommendation: Good to buy around 0.5950  with stop loss of 0.5880 and target price of 0.6050