• NZD/USD rose on Thursday as U.S. President Trump's decision to pause tariffs on several countries improved market sentiment, benefiting risk-sensitive assets like the New Zealand dollar.
• U Trump surprised markets by offering a 90-day reprieve on his newly imposed tariffs, while maintaining a 10% baseline tariff on most countries.
• President Trump’s temporary tariff relief did not apply to China, as he escalated import levies on the Asian giant to 125%. This followed Beijing’s response to Trump’s initial tariffs with an 84% duty on U.S. goods.
• The ongoing back-and-forth actions between the world's two largest economies have left traders on high alert, adding to market uncertainty.
• At GMT 08:51, The New Zealand's dollar was last trading up 0.55% to $0.5674
• Immediate resistance is located at 0.5637(50%fib), any close above will push the pair towards 0.5687(61.8%fib).
• Support is seen at 0.5649 (50%fib) and break below could take the pair towards 0.5582(38.2%fib).
Recommendation: Good to buy around 0.5650 with stop loss of 0.5560 and target price of 0.5750
