• NZD/USD steadied on Wednesday as investors monitored developments in President Donald Trump's tariff negotiations with key trading partners.
• The Trump administration set Wednesday deadline for trade offers, coinciding with a doubling of tariffs on imported steel and aluminum.
• Trump is expected to speak with China’s Xi Jinping this week, amid mutual accusations of violating last month’s tariff rollback agreement.
• Meanwhile, economic data has regained influence over the U.S. dollar this week, despite ongoing trade tensions remaining in focus.
• Traders are closely watching the ADP employment report due later today, as it is widely seen as a leading indicator for the official U.S. nonfarm payrolls data coming on Friday.
• Immediate resistance is located at 0.6052(23.6%fib), any close above will push the pair towards 0.6064 (Higher BB).
• Support is seen at 0.5965 (38.2%fib) and break below could take the pair towards 0.5889(50%fib).
Recommendation: Good to buy around 0.5980 with stop loss of 0.5850 and target price of 0.6080
