FxWirePro:NZD/USD continues to recovers , upside pressure builds

• NZD/USD   edged higher on Thursday as kiwi dollar  drew some support from a hawkish shift in rate expectations from RBNZ

• The Reserve Bank of New Zealand (RBNZ) kept its official cash rate at 2.25% for the second consecutive meeting on Wednesday.

• The Reserve Bank of New Zealand warned the conflict will stoke inflation and sap growth, as global policymakers recalibrate their response to an energy shock rippling through economies.

• The central bank emphasized its commitment to returning inflation to the midpoint of the 1–3% target range, signaling a patient but vigilant approach to monetary policy..

• RBNZ Governor Anna Breman said at a press conference that the bank was not close to raising rates at this meeting and that there were no strong advocates for a rate hike among the committee.

• Meanwhile, U.S.–Iran ceasefire remains fragile. Iran has warned that Israel’s ongoing attacks in Lebanon violate the agreement with the U.S., injecting caution into markets and keeping sentiment volatile.

•  Immediate resistance is located at 0.5861(April 8th high), any close above will push the pair towards 0.5904(Higher BB).

•Support is seen at 0.5820(50%fib) and break below could take the pair towards 0.5788(SMA 20).

 Recommendation: Good to buy  around 0.5820 with stop loss of 0.5680 and target price of 0.5900