• NZD/USD edged higher on Thursday as Kiwi dollar was supported by hawkish expectation from Reserve Bank of New Zealand.
• New Zealand's annual inflation accelerated in the second quarter to a 2-1/2-year high, reinforcing expectations the central bank will raise the cash rate when it next meets in September.
•Data released by Statistics New Zealand on Tuesday showed annual inflation at 4.1%, above analysts' forecasts of 4.0% and the Reserve Bank of New Zealand's latest projection of 3.9% for the quarter.
• Reserve Bank of New Zealand raised the cash rate for the first time in three years to 2.50% earlier this month and signalled further tightening ahead.
• On the Geopolitical front, U.S. launches fresh strikes on Iran as Houthis target two Saudi oil tankers, raising risks of further disruptions to global oil supplies.
• Immediate resistance is located at 05859(50%fib), any close above will push the pair towards 0.5895(Higher BB).
• Support is seen at 0.5775(61.8%fib)and break below could take the pair towards 0.5751(Lower BB).
Recommendation: Good to sell around 0.5810 with stop loss of 0.5750 and target price of 0.5860
