• NZD/USD edged higher on Friday as investors assessed the impact of an escalating global trade war.
•In a move adding to market volatility, U.S. President Donald Trump warned of imposing a 200% tariff on European wine, cognac, and other alcoholic beverages.
•The rising tensions between the long-standing allies followed the EU's announcement to impose tariffs on American whiskey and other products next month.
• On the data front,Manufacturing activity in New Zealand expanded in February, reaching its highest levels since August 2022, according to a survey released on Friday.
• The Bank of New Zealand-Business NZ’s seasonally adjusted Performance of Manufacturing Index (PMI) rose to 53.9 in February, up from a revised 51.7 in January..
• Immediate resistance is located at 0.5742(61.8%fib), any close above will push the pair towards 0.5789(Higher BB ).
• Support is seen at 0.5689(50%fib) and break below could take the pair towards 0.5639(38.2%fib).
Recommendation: Good to buy around 0.5690, with stop loss of 0.5600 and target price of 0.5780
