FxWirePro: NZD/USD extends drop, faces 38.2%fib support

• NZD/USD slipped  lower  on Tuesday  as risk-sensitive New Zealand dollars extended losses on fresh tariff threats.

• Trump stated that he plans to impose tariffs on imported computer chips, pharmaceuticals, and steel to encourage domestic production of these goods in the United States.

• The verbal salvo came a day after the U.S. and Colombia avoided a trade war, with Colombia agreeing to accept military aircraft carrying deported migrants, according to the White House.
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• At (GMT 06:14) Kiwi dollar was trading at down  0.54% at $0.5662 against the U.S. dollar. 
 
•  Immediate resistance is located at 0.6714(50%fib), any close above will push the pair towards 0.5793(50%fib).

•Support is seen at 0.5654 (38.2%fib) and break below could take the pair towards 0.5558  (23.6%fib).

 Recommendation: Good to sell  around 0.5700, with stop loss of 0.05800 and target price of 0.5600