FxWirePro: NZD/USD retreats as Middle East instability weighs

• NZD/USD eased on Friday   escalating geopolitical tensions in the Middle East weighed on kiwi dollar.

• Investors turned more cautious after Yemen's Houthi movement claimed to have launched large-scale ballistic missile and drone attacks, adding to concerns over regional stability.

• Oil prices extended their rally after reports that Iran is considering banning U.S. and Israeli vessels from transiting the Strait of Hormuz, a key global energy shipping route.

•The renewed supply concerns lifted WTI crude, weighing on risk-sensitive currencies such as the New Zealand dollar.

• Market attention is now firmly focused on Friday's U.S. July non-farm payrolls report, with economists expecting job growth of around 80,000.

• The employment data is likely to play a key role in shaping expectations for the Federal Reserve's next policy move and could trigger heightened volatility across currency markets.
 
•  Immediate resistance is located at 0.5923(Higher BB), any close above will push the pair towards 0.5957 (61.8%fib).

•  Support is seen at 0.5851(50%fib) and break below could take the pair towards 0.5836(SMA 20).

 Recommendation: Good to sell around 0.5870 with stop loss of 0.5930 and target price of 0.5800