• NZD/USD rose on Tuesday as the pair benefitted from improved market sentiment.
•Investors endured a volatile week as U.S. tariffs were implemented, only to be unexpectedly paused by President Donald Trump, with China notably left out of the relief.
• The U.S. scrapped tariffs on Chinese electronics, including smartphones, over the weekend.However, Trump hinted the relief could be short-lived.
• The ongoing developments in the China-U.S. trade war remain crucial for the future direction of NZD/USD.
•Trump’s sudden imposition and delay of tariffs on U.S. imports has created confusion, deepening global uncertainty for investors and policymakers alike.
•Looking ahead ,China's retail, GDP, and U.S. trade, retail, and industrial production data are all due before Friday
• At GMT 06:03, The New Zealand's dollar was last trading up 0.50% to $0.5905
• Immediate resistance is located at 0.5929(Daily high), any close above will push the pair towards 0.5979 (23.6%fib).
• Support is seen at 0.5876 (38.2%fib) and break below could take the pair towards 0.5800(50%fib).
Recommendation: Good to buy around 0.5900 with stop loss of 0.5860 and target price of 0.6080
