FxWirePro:NZD/USD remains bearish, focus shifts to U.S. trade policy and Fed testimony

• NZD/USD edged higher on Tuesday  as investors awaited updates on U.S. trade policy and Federal Reserve Chair Jerome Powell's comments on tariffs and inflation..

•On Monday, Trump increased tariffs on steel and aluminium imports to 25%, boosting U.S. steelmaker share prices, and promised to announce global reciprocal tariffs soon.

• Fed Chair Powell is set to testify on Tuesday before the Senate Banking Committee, with his remarks on tariffs and inflation expected to be closely watched.

• Looking ahead, New Zealand's data calendar is light this week, with the central bank meeting scheduled for next Wednesday.

•  The technical outlook remains bearish and points to eventual bigger drop, fourteen-day momentum is negative.
 
•  Immediate resistance is located at 0.5669(50%fib), any close above will push the pair towards 0.5700(61.8%fib).

•  Support is seen at 0.5603(38.2%fib) and break below could take the pair towards 0.5582(Lower BB).

 Recommendation: Good to sell around 0.5700 with stop loss of 0.5850 and target price of 0.5620