• NZD/USD edged higher on Thursday as improving optimism over a potential U.S.-Iran peace agreement boosted global risk appetite.
• Market sentiment improved after reports suggested Iran is reviewing a proposal aimed at ending the conflict, although negotiations remain uncertain..
• Iranian lawmaker Ebrahim Rezaei cautioned that the proposal appears “closer to an American wish-list than to reality,” highlighting that major differences still remain between the two sides..
• 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..
• Traders are now turning their focus to Friday’s key U.S. non-farm payrolls report for April, where Reuters poll forecasts point to a 62,000 increase in jobs. The data could significantly influence Federal Reserve expectations and near-term direction for the U.S. dollar.
• Immediate resistance is located at 0.5968(Higher BB), any close above will push the pair towards 0.5955(38.2%fib).
•Support is seen at 0.5919(50%fib) and break below could take the pair towards 0.5892(SMA 20).
Recommendation: Good to buy around 0.5950 with stop loss of 0.5880 and target price of 0.6000
