FxWirePro: NZD/USD shows upside momentum, but bearish outlook remains

• NZD/USD edged higher on Tuesday  as markets absorbed Chinese data and stayed cautious over escalating tariff risks.

• China’s economy slowed in Q2 but beat forecasts, showing resilience amid U.S. tariffs, though analysts caution over deepening weaknesses and growing pressure for more stimulus.

• China's economy grew 5.2% year-on-year in the April–June quarter, slowing slightly from the 5.4% expansion recorded in the first quarter, according to official data released on Tuesday..

• China’s retail sales rose 4.8% in June, down from 6.4% in May and below analysts’ expectations of a 5.4% increase, signaling a slowdown in consumer spending.

•Trump reignited trade tensions over the weekend by hiking tariffs on EU and Mexican goods to 30%, surpassing previous April 2 levels and injecting renewed uncertainty into the global trade landscape.

• Investors are now turning their attention to U.S. consumer price data for June, seeking signs of inflationary pressure stemming from tariffs and any clues on the Federal Reserve’s next policy move.

•  Immediate resistance is located at 0.6030(38.2%fib), any close above will push the pair towards 0.6088(June 16th high).

•  Support is seen at 0.5949(50%fib)and break below could take the pair towards 0.5923(Lower BB).

 Recommendation: Good to sell around 0.5990 with stop loss of 0.6080 and target price of 0.5900