• NZD/USD declined to hit two week low on Friday as fears of imminent U.S. tariffs and a potential global trade war hit export-sensitive currencies like kiwi dollar.
•. Trump confirmed that the 25% tariffs on Mexican and Canadian goods will start on March 4, along with an additional 10% tariff on China.
• New Zealand dollar has been significantly impacted as the kiwi often serve as liquid proxy for the Chinese yuan due to its economic' close ties with China.
• At GMT 06:04, The kiwi dollar was last trading down 0.55% to $0.5600 .
• Immediate resistance is located at 0.5730(50%fib), any close above will push the pair towards 0.5769(Feb 21st high).
• Support is seen at 0.5573 (38.2%fib) and break below could take the pair towards 0.5521 (23.6%fib).
Recommendation: Good to sell around 0.5620 with stop loss of 0.5700 and target price of 0.5530
