NZD/USD has gained momentum, recovering from the losses it experienced in the previous session. Currently, the pair is trading around 0.5730 during the early European hours on Monday. However, the upside potential may be limited as rising global trade tensions are dampening investor risk appetite.

Traders should keep a close watch on developments in global trade dynamics. These factors could play a critical role in shaping the future direction of the NZD/USD currency pair.