• NZD/USD climbed on Thursday as dollar attracted sellers after U.S. auto tariffs intensified global trade tensions ahead of the April 2 reciprocal tariff deadline.
• On Wednesday, U.S. President Donald Trump announced a 25% tariff on imported cars and light trucks, set to take effect next week, escalating the global trade war.
• Investors are worried that Trump's reciprocal tariffs, set for April 2, could drive inflation, slow growth, and escalate trade tensions.
•Looking ahead, investors await Friday's U.S. PCE data for insights into the future interest rate path. Last week, the U.S. Federal Reserve kept interest rates steady but signaled potential cuts this year.
• At GMT 06:10, The New Zealand dollar was last trading up 0.16% to $0.5746
• Immediate resistance is located at 0.5774(38.2%fib), any close above will push the pair towards 0.5834(23.6%fib).
• Support is seen at 0.5720 (50%fib) and break below could take the pair towards 0.5667(61.8%fib).
Recommendation: Good to buy around 0.5730, with stop loss of 0.5650 and target price of 0.5800
