• NZD/USD hovered near one week low on Thursday as renewed hostilities between the United States and Iran kept investors cautious.
•Market sentiment deteriorated after reports that U.S. forces struck Iran's Qeshm Island, while Iran retaliated with an attack on Kuwait's airport, marking a fresh escalation in regional tensions.
•Although the U.S. State Department announced that Lebanon and Israel had agreed to a ceasefire, markets remained cautious, with traders questioning whether the agreement would be sufficient to ease broader regional tensions.
•Attention now turns to U.S. initial jobless claims data due later on Thursday. Economists surveyed by Reuters expect claims to rise to 213,000. The report could influence expectations for the Federal Reserve's policy outlook and provide further direction for the U.S. dollar.
• Immediate resistance is located at 0.5903(50%fib), any close above will push the pair towards 0.5934(June 3rd high).
• Support is seen at 0.5819(61.8%fib)and break below could take the pair towards 0.5787 (Lower BB).
Recommendation: Good to sell around 0.5860 with stop loss of 0.5930 and target price of 0.5800
