FxWirePro: NZD/USD extends gains, faces 38.2%fib resistance

• NZD/USD climbed sharply on Tuesday as the dollar weakened after reports hinted that the incoming Trump administration might take a less aggressive stance on tariffs.

.• A Washington Post report on Monday revealed that Trump aides were considering tariff plans targeting all countries but limited to sectors critical to national or economic security.

.• Trump dismissed the story as  wrong  and labeled it  just another example of Fake News  in a social media post.

• At (GMT 06:29) Kiwi dollar was trading at up  0.39% to 0.5665 against the U.S. dollar , having   gained 0.6% overnight.  

•  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 0.5675(38.2%fib), any close above will push the pair towards 0.5740(50%fib).

•Support is seen at 0.5633 (Daily low) and break below could take the pair towards 0.5933(23.6%fib).

 Recommendation: Good to buy around 0.5650 with stop loss of 0.5550 and target price of 0.5750