FxWirePro: NZD/USD downside pressure builds, key support level in focus - EconoTimes
• NZD/USD continued to weaken on Wednesday as waning risk appetite and stronger US dollar weighed on the Kiwi.• Strength in the U.S. dollar remains a major driver, with the index pushing to a fresh 13-month high at 101.43, reflecting sustained safe-haven demand and tighter Fed expectations.• Market pricing has shifted toward higher odds of Federal Reserve rate hikes, supported by increasingly hawkish commentary from policymakers, further boosting USD strength.• On the geopolitical front, the U.S. Senate advanced legislation requiring an end to military action in Iran, adding another layer of political uncertainty to global markets.• Attention is also on monetary policy signals from New Zealand, with RBNZ Governor Breman scheduled to attend the closed-door BIS conference on Friday, which could offer clues on future policy direction.
• Immediate resistance is located at 0.5724(June 23rd high), any close above will push the pair towards 0.5759(38.2%fib).• Support is seen at 0.5646(23.6%fib) and break below could take the pair towards 0.5611(Lower BB). Recommendation: Good to sell around 0.5670 with stop loss of 0.5750 and target price of 0.5600Gold is meant to be a ‘safe haven’ in uncertain times. Why is it crashing amid a war?Wall Street Slides as Iran War Uncertainty, Oil Surge, and AI Fears Rattle MarketsSpaceX IPO Filing Expected This Week as Valuation Could Surpass $75 BillionStagflation Shadows: U.S. Manufacturing Shines as Services Slump to 11-Month LowScarcity and Strife: Bitcoin Hits Historic Milestone Amid Geopolitical TremorsStrategy's Multi-Billion Dollar Bitcoin Accumulation: A 2026 Milestone
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