• NZD/USD steadied on Wednesday as hopes for a resumption of U.S.-Iran peace talks lifted investor appetite for risk-sensitive currency like kiwi dollar.
• President Donald Trump said talks with Iran could resume in the next two days, after the collapse of weekend negotiations prompted Washington to impose a blockade on Iranian ports.
• The signs of diplomatic engagement to end the conflict that began on February 28 helped calm oil markets.
•The war has prompted Iran to effectively shut the Strait of Hormuz, a crucial global waterway for crude and gas transport and cut shipments from the Gulf to global buyers, particularly in Asia and Europe..
• Immediate resistance is located at 0.5913(38.2%fib), any close above will push the pair towards 0.5932(Higher BB).
• Support is seen at 0.5861(April 14th low) and break below could take the pair towards 0.5840(23.6%fib).
Recommendation: Good to buy around 0.5900 with stop loss of 0.5840 and target price of 0.5960
