FxWirePro: NZD/USD drops to a two-week low, vulnerable to more downside

• 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