FxWirePro:NZD/USD edges higher but bearish outlook persists

• NZD/USD  edged higher on Wednesday  as markets reacted to shifting developments around the Iran conflict and sharp swings in oil prices.

• The U.S. Federal Reserve will announce its policy decision on Wednesday, with the ECB, the Bank of England and the Bank of Japan following a day later.

•They are all expected to keep rates unchanged, although traders will be looking out for commentary about inflation and economic outlook amid the U.S.-Israeli war on Iran.

• Expectations for Federal Reserve easing have also been scaled back, with markets now assigning about 25 basis points of cuts this year.

•Traders are pricing more than one ECB rate hike in 2026, a sharp shift from the roughly 50% chance of a cut seen before the conflict began.

 •Menwhile, Oil prices stayed above $100 a barrel, as Iranian attacks on the United Arab Emirates deepened fears over the global supply outlook.

•  Immediate resistance is located at 0.5904(61.8%fib), any close above will push the pair towards 0.5920(SMA 20).

•Support is seen at 0.5809 (Lower BB) and break below could take the pair towards 0.5772(38.2%fib).

 Recommendation: Good to sell around 0.5870 with stop loss of 0.5970  and target price of 0.5800