FxWirePro: NZD/USD loses momentum but short term outlook remains bullish

• NZD/USD eased slightly  on Monday    as investors cautiously awaited updates on U.S. trade policy and prepared for a week full of economic data.

•Last week, the Trump administration signaled a willingness to de-escalate the trade war between the world’s two largest economies, easing recession concerns.

• On Friday, China exempted certain U.S. imports from its heavy tariffs but promptly denied Trump's claim that negotiations were ongoing..

• China’s economy is particularly vulnerable to the trade war, with deflation risks rising amid weak income growth and an ongoing property slump.

• Key data releases this week include the U.S. job openings report on Tuesday, Personal Consumption Expenditures on Wednesday, and the non-farm payrolls report on Friday, all crucial for assessing the economic outlook..

• At GMT 10: 50, The New Zealand's dollar  was last  trading down 0. 13% at $0.5949.

•  Immediate resistance is located at 0. 6013 (23 .6%fib), any close above will push the pair towards 0.6072 (Higher BB).

•  Support is seen at 0.5921 (50%fib) and break below could take the pair towards 0.5844 (61. 8%fib).

 Recommendation: Good to buy around 0.5920 with stop loss of 0.5860 and target price of 0.6000