NZD/USD rallies as trade tensions escalate following Trump’s tariff announcement

• NZD/USD strengthened on  Thursday as dollar weakened after  President Donald Trump's latest round of sweeping tariffs rattled investor confidence due to rising global trade tensions

• On Wednesday, U.S. President Donald Trump unveiled significantly expanded tariffs targeting approximately 60 countries, including hefty levies on China and its major trading partners.

•China was hit with a 34% levy, Japan got 24%, Vietnam 46% and South Korea 25%. The European Union was hit with a 20% levy.

•The sweeping duties have sent global markets into turmoil, raising concerns that they could slow economic growth and fuel inflation.  

•  At GMT 11:08, The New Zealand  dollar  was last  trading up  1.01% to $0.5803

•  Immediate resistance is located at 0.5810(50%fib), any close above will push the pair towards 0.5844(Higher BB).

•  Support is seen at 0.5680 (38.2%fib) and break below could take the pair towards 0.5639(Lower BB).

 Recommendation: Good to buy around 0.5800, with stop loss of 0.5720 and target price of 0.5880