FxWirePro: NZD/USD attracts selling interest, vulnerable to more downside

• NZD/USD declined on Friday   as continued U.S. dollar strength weighs on the kiwi dollar.

• Late Thursday, President Trump signed an executive order slapping tariffs between 10% and 41% on U.S. imports from several countries. India faces a 25% rate, Taiwan 20%, Thailand 19%, and South Korea 15%.

• Trump raised tariffs on Canadian goods to 35% from 25% for items not covered under the USMCA, while granting Mexico a 90-day reprieve to negotiate a broader trade agreement..

• Attention shifts to the upcoming U.S. non-farm payrolls report, with investors seeking clues on how it may influence the Fed’s rate-cut timeline.

• Traders are also turning their attention to key domestic data, with New Zealand’s Q2 unemployment figures due next week. The jobless rate is expected to rise to 5.3%, which could weigh further on the kiwi if confirmed.

•  Immediate resistance is located at 0.5914(50%fib), any close above will push the pair towards 0.5971(SMA 20).

•  Support is seen at 0.5861(Lower BB)and break below could take the pair towards 0.5818(Lower BB).

 Recommendation: Good to sell around 0.5890 with stop loss of 0.6050 and target price of 0.5800