• GBP/NZD initially fell but gained some ground as U.S. President Donald Trump's sweeping tariffs ignited fears of an all-out trade war and a global economic recession.
•Investors fled risky assets and turned to the safety of government bonds after Trump imposed a 10% tariff on most U.S. imports, along with much higher levies on dozens of other countries..
• The tariffs, set to disrupt the global trade order, mark a sharp shift from just a few months ago when the promise of business-friendly policies under the Trump administration had driven dollar higher.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 57,while moving averages and MACD are trending higher.
• Immediate resistance is located at 2.2724(April 2nd high), any close above will push the pair towards 2.2812(23.6%fib).
• Immediate support is seen at 2.2595(38.2%fib) and break below could take the pair towards 2.2493(Daily low).
Recommendation: Good to buy around 2.2600, with stop loss of 2.2520, and target price of 2.2750
