• NZD/USD ticked up Monday as traders evaluated global tensions and digested Chinese economic data.
•Fresh strikes by Israel and Iran on Sunday resulted in civilian deaths and injuries, intensifying concerns of a broader conflict and prompting warnings for civilians.
• The escalation adds an unwelcome complication to the G7 meeting in Canada, already tense due to Trump’s tariffs on U.S. allies.
• China's industrial output grew 5.8% in May, down from April’s 6.1% and below expectations, while retail sales surprised on the upside.
•On the economic front, New Zealand is set to release Q1 GDP data on Thursday, with forecasts pointing to a solid 0.7% quarterly growth as the economy rebounds from a policy-driven downturn.
• Immediate resistance is located at 0.6087(23.6%fib), any close above will push the pair towards 0.6111(Higher BB).
• Support is seen at 0.5993(38.2%fib)and break below could take the pair towards 0.5920(38.2%fib).
Recommendation: Good to buy around 0.6010 with stop loss of 0.5930 and target price of 0.6100
