FxWirePro: NZD/USD slides as Trump rekindles tariff fears

• NZD/USD moved lower on Friday as market sentiment soured, driven by President Trump’s latest tariff warnings that reignited trade tensions.

• On Thursday, President Trump announced a 35% tariff on U.S. imports from Canada and indicated plans to impose broad-based duties of 15% to 20% on the majority of other trading partners..

• The move follows Wednesday’s 50% tariff on copper imports and similar levies on Brazil, with earlier notifications sent to Japan, South Korea, and others.

• The Reserve Bank of New Zealand held its benchmark interest rate steady at 3.25% this week, in line with market expectations, but signaled a clear willingness to cut rates in August if economic conditions evolve as anticipated.

• Markets are pricing in a 65% probability of a rate move next month, with odds roughly evenly split on a subsequent increase to 2.75%.

•  Immediate resistance is located at 0.6101(23.6%fib), any close above will push the pair towards 0.6133 (Higher BB).

•  Support is seen at 0.5984(38.2%fib)and break below could take the pair towards 0.5936(Lower BB).

 Recommendation: Good to buy around 0.5980 with stop loss of 0.5900 and target price of 0.6070