• NZD/USD edged lower on Wednesday as global trade war fears weighed on investor sentiment, leading to a cautious trading environment.
•The pair remains range-bound, and its next major move will likely depend on the U.S. inflation data and Federal Reserve policy outlook.
•Traders also continue to monitor U.S.-China tariff discussions and potential economic stimulus measures following China’s recent parliamentary meeting.
• At GMT 06:42, The Kiwi dollar was last trading down 0.19% to $0.5704 against greenback.
• Immediate resistance is located at 0.5719(50%fib), any close above will push the pair towards 0.5762(March 6th high ).
• Support is seen at 0.5663(38.2%fib) and break below could take the pair towards 0.5592 (23.6%fib).
Recommendation: Good to buy around 0.5680, with stop loss of 0.5600 and target price of 0.5780
