FxWirePro: NZD/USD firms , scope for further upside

• NZD/USD firmed on Thursday  as improved risk sentiment and weaker greenback supported kiwi dollar.

•The U.S. dollar softened as investors weighed uncertainty over upcoming tariff policy and ongoing U.S.–Iran talks, which dampened demand for the greenback amid broader risk-off sentiment

•The U.S. tariff rate for some countries will rise to 15% or higher from the newly imposed 10%, U.S. Trade Representative Jamieson Greer said on Wednesday, without naming any specific trading partners or giving further details.

•On the data front, New Zealand business confidence fell in February after reaching a 30-year high in December, though activity indicators remained solid, according to an ANZ Bank New Zealand survey.

• A net 59.2% of respondents expect economic improvement over the next year, down from 64.1% in January, while 52.6% expect their own business activity to grow, slightly up from 51.6%.
 
•  Immediate resistance is located at 0.5998(38.2%fib), any close above will push the pair towards 0.6017(SMA 20).

• Support is seen at 0.5998 (Daily low) and break below could take the pair towards 0.5917(50%fib).

 Recommendation: Good to buy  around 0.6000 with stop loss of 0.5900 and target price of 0.6100