• NZD/USD slipped lower on Monday as investor sentiment turned cautious ahead of President Trump’s looming trade tariff deadline and the Reserve Bank of New Zealand’s upcoming rate decision.
• Investors are keeping a close eye on tariff levels, rollout schedules, and the progress of trade negotiations between the U.S. and its key partners, as these factors continue to shape global market sentiment.
• President Trump announced that the U.S. is close to finalizing several trade agreements and will begin formally notifying around a dozen countries on Monday
•Meanwhile, the RBNZ is expected to hold rates at 3.25% on Wednesday amid economic recovery and rising inflation.
• A majority of economists expect the Reserve Bank of New Zealand to keep its Official Cash Rate unchanged at 3.25%
• Immediate resistance is located at 0.6067(Daily high), any close above will push the pair towards 0.6117(23.8%fib).
• Support is seen at 0.6003(38.2%fib)and break below could take the pair towards 0.5949(Lower BB).
Recommendation: Good to buy around 0.5990 with stop loss of 0.5900and target price of 0.6060
