FxWirePro: NZD/USD edges lower as trade war fears mount

• NZD/USD edged lower on Monday     as concerns around U.S. President Donald Trump's tariffs and the potential economic fallout weighed on the trade-exposed Kiwi dollar.

•Trump has vowed to reveal a major tariff plan on Wednesday, calling it "Liberation Day." He has already imposed tariffs on aluminum, steel, and autos, along with higher duties on all Chinese goods.

•  Markets are nervous ahead of a new round of reciprocal levies that the White House is due to announce on Wednesday.

• Trump views tariffs as a tool to protect the domestic economy from unfair global competition and as leverage for better trade terms. However, concerns about a potential trade war are unsettling markets and raising fears of a U.S. recession.

• The New Zealand dollar  was down   0.01% to $0.5714 against greenback.

•  Immediate resistance is located at 0.5737(50%fib), any close above will push the pair towards 0.5765(March 26th high ).

•  Support is seen at 0.5691(38.2%fib) and break below could take the pair towards 0.5631 (23.6%fib).

 Recommendation: Good to buy around 0.5700, with stop loss of 0.5630 and target price of 0.5760