• NZD/USD eased on Thursday as traders digest ongoing geopolitical developments and assess their impact on risk sentiment.
•U.S. President Donald Trump said in a prime-time address that the U.S. would hit Iran "extremely hard" within weeks, claiming military goals were nearly achieved and the conflict was close to ending.
• In the immediate aftermath of the speech, however, investors were back to selling almost everything except the U.S. dollar and sending oil prices higher..
• Commodity currencies like the NZD remain largely influenced by news flow from the Middle East. This factor continues to cap any strong rallies, leaving the broader downtrend intact.
• All eyes are on the March U.S. Non-Farm Payrolls report due Friday, with a Reuters poll consensus of +60k. The outcome is expected to significantly influence risk appetite and the direction of commodity-linked currencies, including the NZD.
• Immediate resistance is located at 0.5756(Daily high), any close above will push the pair towards 0.5805(50%fib).
•Support is seen at 0.5702(38.2%fib) and break below could take the pair towards 0.5651(Lower BB).
Recommendation: Good to sell around 0.5720 with stop loss of 0.5760 and target price of 0.5660
