FxWirePro: NZD/USD loses momentum but bullish setup remains

• NZD/USD initially gained but gave up some ground   on Monday as uncertainty over U.S.-Iran peace talks weighed on sentiment.

• President Donald Trump rejected Iran’s response to a U.S. peace proposal on Sunday, calling Tehran’s demands “totally unacceptable” and raising concerns over stalled negotiations and prolonged Middle East tensions.."

•An Iranian plan sent to the U.S. stressed the need for an end to the war on all fronts and the lifting of sanctions on Tehran, along with reparations and a recognition of Iran's control of the Strait, Iranian media reported.

•Oil prices jumped as the Strait of Hormuz remained largely closed, keeping global energy supplies tight.

•A Fed report Friday warned the Iran war and its impact on oil prices and supply now top financial stability risks.

•Investors are now looking out for April's U.S. Consumer Price Index data, due later this week, for further clues on the Fed's monetary policy direction.

•  Immediate resistance is located at 0.5962(Higher BB), any close above will push the pair towards 0.6000(Psychological level).

•  Support is seen at 0.5929 (50%fib) and break below could take the pair towards 0.5899 (SMA 20).

 Recommendation: Good to buy around 0.5930 with stop loss of 0.5870and target price of 0.5990