• NZD/USD edged higher on Thursday as the U.S. dollar softened ahead of the looming U.S. tariff deadline.
Trade negotiations between the U.S. and several countries intensified as the August 1 tariff deadline approached
• Investors are closely watching last-minute trade deals after President Trump announced that South Korea had successfully secured a trade deal that included reduced 15% tariffs, allowing it to avoid harsher measures.
• Vietnam, Indonesia, the Philippines, Japan, Cambodia, and Thailand have already secured trade agreements, heightening the urgency for remaining economies to follow suit.
•Attention turns to U.S. core PCE data later today, with Friday’s jobs report expected to offer more insight into the Fed’s next move.
• Immediate resistance is located at 0.5940(Daily high), any close above will push the pair towards 0.5981 (38.2%fib).
• Support is seen at 0.5885 (50%fib)and break below could take the pair towards 0.5873(Lower BB).
Recommendation: Good to sell around 0.5960 with stop loss of 0.6080 and target price of 0.5830
