FxWirePro: NZD/USD runs out of steam but maintains bullish outlook

• NZD/USD eased slightly   on Monday    as US dollar firmed after U.S. struck a framework trade agreement with the European Union.

• The U.S. reached a framework trade deal with the EU, setting a 15% tariff on most EU imports—half the previously threatened rate just a week after a similar agreement with Japan..

• Nations are racing to secure trade agreements before the August 1 deadline set by U.S. President Donald Trump.  

• Investors now focus on Monday’s Stockholm meeting between senior U.S. and Chinese negotiators, which aims to extend the tariff truce between the world’s two largest economies..

• At GMT 05:18, the New Zealand dollar was down 0.18% to 0.6006 against the   US dollar

•  Immediate resistance is located at 0.6085(23.6%fib), any close above will push the pair towards 0.6119 (Higher BB).

•  Support is seen at 0.5974(38.2%fib)and break below could take the pair towards 0.5891(50%fib).

 Recommendation: Good to buy around 0.6000 with stop loss of 0.5960 and target price of 0.6060