FxWirePro:NZD/USD gains upside momentum as bulls take charge

• NZD/USD   rose higher  on Monday as  risk sentiment was  lifted by Iran’s proposal to reopen the Strait of Hormuz.

•Iran gave the U.S. a new proposal through Pakistani mediators on reopening the waterway and the ending of the war, with nuclear negotiations postponed for a later stage.

•Markets are reacting positively to signs of easing supply disruptions. Reopening the key oil transit route has historically boosted risk assets and pressured safe havens by reducing energy shock fears.

•Ongoing backchannel diplomacy highlights that while progress is tentative, dialogue remains •active helping stabilize sentiment even without a formal agreement.

• Despite the ceasefire, the strait remains either partially restricted or inconsistently accessible, keeping traders on edge. This narrow waterway handles roughly 20% of global oil and gas flows, making it central to supply dynamics.

•  Immediate resistance is located at 0.5922(50%fib), any close above will push the pair towards 0.5976(Higher BB).

•Support is seen at 0.5847 (61.8%%fib) and break below could take the pair towards 0.5830(SMA20).

 Recommendation: Good to buy around 0.5850 with stop loss of 0.5800  and target price of 0.5950