• NZD/USD slipped lower on Thursday as escalating middle east tension offset upbeat New Zealand GDP data.
• Iran-Israel conflict escalated with further airstrikes, as Trump left open the question of U.S. participation in targeting Iran's nuclear facilities.
• The most intense conflict yet between the two regional powers has sparked fears of global involvement and deeper destabilization across the Middle East.
•Meanwhile, New Zealand’s economy grew more than expected in the first quarter, reinforcing its recovery from last year’s recession and allowing the central bank more time to assess the timing of future interest rate cuts.
• Official data released Thursday by Statistics New Zealand showed GDP rose 0.8% in the March quarter from the previous three months, outpacing both market expectations of a 0.7% increase .
• Immediate resistance is located at 0.6038(Daily high), any close above will push the pair towards 0.6078(23.8%fib).
• Support is seen at 0.5980(38.2%fib)and break below could take the pair towards 0.5929(Lower BB).
Recommendation: Good to sell around 0.5980 with stop loss of 0.6080 and target price of 0.5920
