FxWirePro: NZD/USD uptrend gains momentum but hurdles ahead

• NZD/USD gained some upward traction on Friday as dollar retreated as investors digested Federal Reserve Governor Christopher  comments .

Fed Governor Waller reiterated support for a rate cut this month, citing rising economic risks and downplaying the threat of persistent inflation from tariffs.

• Most Fed officials have indicated they see no need to alter the current 4.25%–4.5% interest rate range, citing still-elevated inflation, a resilient economy, and uncertainty over the inflationary impact of President Trump’s trade tariffs.

•Financial markets expect the first rate cut to come in September, aligning with Fed officials' June projections for two reductions this year.

• New Zealand’s CPI data, due Monday, is expected to show annual inflation rising to 2.8% from 2.5%, driven mainly by higher food and electricity costs.

•  Immediate resistance is located at 0.6002(38.2%fib), any close above will push the pair towards 0.6105 (23.6%fib).

•  Support is seen at 0.5909(50%fib)and break below could take the pair towards 0.5866(Lower BB).

 Recommendation: Good to buy around 0.5980 with stop loss of 0.6080 and target price of 0.5900