FxWirePro: NZD/USD firms as Q1 NZ CPI runs hotter than expected

• NZD/USD    gained some traction on Tuesday after stronger-than-expected inflation data kept price pressures above the RBNZ’s 1–3% target band.

• New Zealand's annual inflation remained unchanged in the first quarter, coming in at 3.1%, above analysts’ forecasts and above the top end of the central bank’s target range, official data showed on Tuesday.

•The consumer price index rose 0.9% in the first quarter from the previous quarter, Statistics New Zealand said.

•The Reserve Bank of New Zealand targets annual inflation of between 1% and 3% over the medium-term.

•Geopolitical developments remain a key driver, with Trump maintaining a positive tone ahead of the U.S.-Iran ceasefire deadline, while Pakistan signaled confidence that Iran may still attend peace talks despite earlier rejection.

•  Immediate resistance is located at 0.5914(50%fib), any close above will push the pair towards 0.5989(38.2%fib).

•Support is seen at 0.5842(61.8%fib) and break below could take the pair towards 0.5807(Lower BB).

 Recommendation: Good to buy  around 0.5900 with stop loss of 0.5840  and target price of 0.5960