• NZD/USD edged higher on Tuesday as markets digested renewed uncertainty surrounding U.S. trade policy.
• The greenback recovered earlier losses after Trump warned countries against backing away from recently negotiated trade agreements following the Supreme Court’s decision to strike down his emergency tariffs.
• Washington’s latest tariff threats are creating uncertainty over the global trade outlook. The Supreme Court ruled on Friday that Trump’s use of a 1977 emergency law to impose tariffs exceeded his authority.
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• 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 0.5984(38.2%fib), any close above will push the pair towards 0.6016 (SMA 20).
• Support is seen at 0.5941 (Lower BB) and break below could take the pair towards 0.5911(50%fib).
Recommendation: Good to buy around 0.5960 with stop loss of 0.5900 and target price of 0.6070
