• The NZD/USD rose higher on Monday as US dollar weakened amid escalating tariff threats and geopolitical uncertainties
• On Friday, Trump announced plans to raise steel and aluminum tariffs from 25% to 50%, fueling concerns over a worsening trade dispute with China.
• Additionally, ongoing geopolitical tensions also pressured the greenback as investors seeked alternative assets .
• Markets are closely watching speeches from several U.S. Federal Reserve officials this week for insights into the monetary policy outlook. Fed Chair Jerome Powell is scheduled to speak later today, with investors eager for clues on future interest rate moves amid economic uncertainties.
• At GMT 05:48, the dollar was up 0.42% to 0.6459 against the New Zealand dollar.
• Immediate resistance is located at 0.6014(23.6%fib), any close above will push the pair towards 0.6047(Higher BB).
• Support is seen at 0.5961 (Daily low) and break below could take the pair towards 0.5926(38.2%fib).
Recommendation: Good to buy around 0.5980 with stop loss of 0.5900 and target price of 0.6080
