FxWirePro: NZD/USD edges lower as US-China trade truce lacks clarity

• NZD/USD dipped on Wednesday as   lack of specifics from Sino-US trade truce framework kept investors cautious.

• Negotiators from the United States and China reached an agreement on a framework to build on last month's Geneva trade ceasefire, which will be forwarded to their leaders for final approval.

• The framework will handle China's export limits on rare earth materials and magnets, as well as certain newly imposed US export restrictions, although specifics were scarce.

• The U.S. and China began a trade war in April with tit-for-tat tariffs, but last month’s Geneva talks led to an agreement to scale back tariffs from triple-digit levels.

•At GMT 06:32, the New Zealand dollar was trading down 0.40% at 0.6027 against greenback   .

•  Immediate resistance is located at 0.6079(23.6%fib), any close above will push the pair towards 0.6109 (Higher BB).

•  Support is seen at 0.5993(38.2%fib)and break below could take the pair towards 0.5920(38.2%fib).

 Recommendation: Good to buy around 0.6010 with stop loss of 0.5930 and target price of 0.6100