FxWirePro: NZD/USD downside pressure builds, key support levels in focus

• NZD/USD declined on Tuesday  as  amid dollar strength driven by the aftermath of the U.S.-EU trade pact.

• The dust is still settling as investors continue to assess the broader implications of the U.S.-EU trade agreement.

• Trump warned a 15–20% global tariff will apply to nations without U.S. trade deals ahead of the August 1 deadline.

• All eyes are on the Federal Reserve this week, with its policy announcement due Wednesday expected to provide key signals on the future path of U.S. monetary policy.

• This week’s packed economic calendar features Q2 GDP data from the eurozone and the U.S. on Wednesday, the Fed’s interest rate decision, and the all-important U.S. jobs report on Friday.

•  Immediate resistance is located at 0.5999(SMA 20), any close above will push the pair towards 0.6100(23.%fib).

•  Support is seen at 0.5938(38.2%fib)and break below could take the pair towards 0.5866(Lower BB).

 Recommendation: Good to sell around 0.5960 with stop loss of 0.6080 and target price of 0.5890