FxWirePro: NZD/USD holds near 8-month high, room for further gains

• NZD/USD held near an eight-month high as the U.S. dollar weakened on rate cut bets and trade deal uncertainty ahead of Trump’s July 9 tariff deadline.

• Trump ruled out extending the July 9 deadline for trade talks and expressed doubt over a deal with Japan, though he remains optimistic about reaching one with India.

•Powell, speaking Tuesday at the ECB’s conference in Sintra, said the Fed remains patient on rate cuts but didn’t rule out action this month, stressing decisions will depend on upcoming data.

• Markets are eyeing Trump’s tax-and-spending bill, set to add $3.3 trillion to the national debt, as it heads back to the House after Senate approval.

•  The Reserve Bank of New Zealand also meets next week, but is widely expected to pause its easing cycle, having already slashed rates by 225 basis points to 3.25%.

• Immediate resistance is located at 0.6120(23.6%fib), any close above will push the pair towards 0.6143(Higher BB).

•  Support is seen at 0.6035(38.2%fib)and break below could take the pair towards 0.5960 (50%fib).

 Recommendation: Good to buy around 0.6070 with stop loss of 0.5920 and target price of 0.6150