FxWirePro:NZD/USD downside pressure builds, key support levels in focus

• NZD/USD declined on Thursday as  dollar was   stronger  as markets digested recent remarks from U.S. President Donald Trump.

• The U.S. dollar rebounded after President Donald Trump dismissed speculation about removing Federal Reserve Chair Jerome Powell, helping calm market nerves.

• Investors stay focused on tariffs ahead of the August 1 deadline, when many trading partners face higher levies.

• On the data front, New Zealand’s annual food inflation rose to 4.6% in June 2025, up from 4.4% in May, marking the highest rate since December 2023..

• Traders are watching today’s U.S. retail sales data for signals on the economy and future Fed rate decisions.

•  Immediate resistance is located at 0.5955(Daily high), any close above will push the pair towards 0.5998(23.%fib).

•  Support is seen at 0.5912(50%fib)and break below could take the pair towards 0.5869(Lower BB).

 Recommendation: Good to sell around 0.5930with stop loss of 0.6050 and target price of 0.5860