• EUR/NZD initially gained but gave up ground uptick was tempered by lingering uncertainties over U.S. President Donald Trump's proposed tariff measures following his inauguration.
• Markets worldwide reacted with anticipation as Trump took office. While he didn't impose tariffs immediately, he suggested 25% duties on imports from Canada and Mexico starting Feb. 1.
• Trump also outlined plans to reduce the U.S. trade deficit with the EU, potentially through tariffs or increased energy exports.
• Technical signals are bullish as RSI is at 52, daily momentum studies 14, 21 and 30 DMAs are trending up.
• Immediate resistance is located at 1.8411 (38.2%fib), any close above will push the pair towards 1.8461 (Jan 17th high).
• Support is seen at 1.8300 (50%fib) and break below could take the pair towards 1.8259(61.8%fib)
Recommendation: Be on sidelines
