FxWirePro: NZD/USD edges higher but bearish outlook persists

• NZD/USD  edged higher  on Monday  as   investors braced for a slew of central bank meetings under the shadow of the U.S.-Israel war on Iran.

•At least eight major central banks, including the Federal Reserve, European Central Bank, Bank of England, and Bank of Japan, will meet this week to decide on interest rates in their first policy gatherings since the Middle East conflict began.

• Focus will be on policymakers' assessment of the impact of higher oil prices on inflation and growth.

• The United States is reportedly in talks with several countries to safeguard shipping through the Strait of Hormuz, according to comments from Donald Trump, as concerns grow about disruptions to global oil supplies.

• Trump also warned that NATO could face a “very bad” future if the alliance fails to provide sufficient support to the United States, adding another layer of geopolitical uncertainty to markets.

.• Technical indicators remain bearish, with the pair trading below the14-day and 21-day moving averages, while the daily RSI continues to trend lower.

•  Immediate resistance is located at 0.5919(50%fib), any close above will push the pair towards 0.5966(SMA 20).

•Support is seen at 0.5889(61.8%fib) and break below could take the pair towards 0.5818(Lower BB).

 Recommendation: Good to sell around 0.5830 with stop loss of 0.8950 and target price of 0.5760