• NZD/USD initially gained but gave up ground as confusion surrounding US trade policy over new tariff announcements kept investors cautious.
• The Supreme Court’s 6-3 ruling overturned Trump’s broad tariffs imposed under a national emergency law, carrying significant global economic implications.
•Trump angrily responded to the court's ruling that he did not have the power to unilaterally set tariffs on imports, vowing a new 10% levy.
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• Data from New Zealand on Monday showed retail sales volumes grew 0.9% in the December quarter, slowing from the quarter before but still adding to economic growth.
• The technical outlook remains bullish and points to eventual bigger gains, Fourteen-day momentum is positive, reinforcing the scope for a bigger gains .
• Immediate resistance is located at 0.5998(38.2%fib), any close above will push the pair towards 0.6024 (SMA 20).
• Support is seen at 0.5939 (Lower BB) and break below could take the pair towards 0.5919(Lower BB).
Recommendation: Good to buy around 0.5970 with stop loss of 0.5900 and target price of 0.6070
