• NZD/USD traded flat on Thursday as Investors stayed cautious amid rising trade tensions with China, New Zealand's largest trading partner, following Trump’s latest tariff threats..
• NZD/USD saw a short-squeeze rebound on Wednesday following the Reserve Bank of New Zealand's decision to cut rates by 50 basis points to 4.25%, instead of the larger 75 basis points that some had anticipated.
•RBNZ Governor Adrian Orr hinted at a possible 50bps rate cut as early as February, depending on how economic conditions unfold.
.
• At (GMT 06:23) Kiwi dollar was trading down at 0.07% at $0.5890 against the U.S. dollar.
• Immediate resistance is located at 0.5890(38.2%fib), any close above will push the pair towards 0.5958 (50%fib).
• Support is seen at 0.5803(23.6%fib) and break below could take the pair towards 0.5769(Lower BB).
Recommendation: Good to sell around 0.5900, with stop loss of 0.6000 and target price of 0.5900
