• NZD/USD hovered near 1 -week high on Friday as investors awaited a U.S. inflation reading and monitored any progress on U.S. tariff deals.
• The U.S. announced it had signed a deal with China, though details were not disclosed, and also agreed to accelerate rare earth shipments.
• According to Trump, a U.S.-India trade deal is on the horizon, while EU officials engaged in talks over new U.S. trade proposals.
• Markets are hoping for further trade deals ahead of the July tariff deadline, as countries seek to avoid Trump’s sweeping duties that risk undermining global economic growth.
• All eyes will be on the upcoming PCE inflation data, as analysts search for early signs of economic fallout from Trump’s tariff measures.
• Technical show resilience: 5-, 10-, and 21-day moving averages are holding firm, RSI is pointing north.
• Immediate resistance is located at 0.6079(23.6%fib), any close above will push the pair towards 0.6098(Higher BB).
• Support is seen at 0.6021(SMA 20)and break below could take the pair towards 0.5979 (38.2%fib).
Recommendation: Good to buy around 0.6040 with stop loss of 0.5920 and target price of 0.6120
