FxWirePro: NZD/USD edges lower, remains on back foot

• NZD/USD  edged lower  on Tuesday as investors favored the greenback after the United States and Iran halted strikes over the weekend.

·  U.S. President Donald Trump continued to promote peace efforts with Iran, improving global risk sentiment and boosting the U.S. dollar.

·  Investors are also monitoring the latest U.S. tariff developments following the pause in the U.S.-Iran conflict, with trade policy uncertainty remaining a key driver for markets.

·  Attention now turns to Wednesday's Federal Reserve policy decision. While the Fed is widely expected to leave interest rates unchanged, traders will closely watch the accompanying statement and Chair Jerome Powell's comments for clues on the future policy path.

·Investors will also look to U.S. second-quarter GDP data and the Fed's preferred inflation gauge, core PCE inflation, this week for more clues on the health of the world's biggest economy.

•  Immediate resistance is located at 05799(50%fib), any close above will push the pair towards 0.5819(Jun23rd high).

•  Support is seen at 0.5768(SMA 20)and break below could take the pair towards 0.5726(38.2%fib).

 Recommendation: Good to sell around 0.5800  with stop loss of 0.5850 and target price of 0.5740