• NZD/USD climbed on Monday as renewed hopes for US-China trade agreement boosted New Zealand dollar.
• Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and U.S. Trade Representative Jamieson Greer will lead the American delegation, while Vice Premier He Lifeng is expected to head the Chinese team.
• The discussions come at a critical juncture, as China struggles with deflation and U.S. businesses and consumers grow wary amid trade uncertainty—causing investors to rethink the dollar’s haven appeal.
• Meanwhile, the U.S. inflation report for May will take center stage later in the week, as investors and Federal Reserve policymakers seek clues on the impact of trade restrictions on the economy.
•At GMT 07:11, the New Zealand dollar was trading up 0.62% at 0.6048 against greenback .
• Immediate resistance is located at 0.6069(23.6%fib), any close above will push the pair towards 0.6097 (Higher BB).
• Support is seen at 0.6000 (Psychological level) and break below could take the pair towards 0.5979(38.2%fib).
Recommendation: Good to buy around 0.6020 with stop loss of 0.5930 and target price of 0.6100
