• EUR/ NZD extends declined as upbeat New Zealand’s manufacturing data supported kiwi dollar.
• New Zealand’s manufacturing sector grew robustly in December, hitting a four-year high, according to a recent survey.
• New Zealand’s Business NZ Performance of Manufacturing Index rose to 56.1 in December, up 4.4 points from November.
• The RBNZ signaled a possible pause in easing, with the OCR seen on hold through 2026, though Governor Hawkesby said further cuts remain possible if growth disappoints.
• Immediate resistance is located at 2.0262(SMA 20), any close above will push the pair towards 2.0372 (38.2%fib).
• Immediate support is seen at 2.0159(50% fib) and break below could take the pair towards 2.0117 (Lower BB).
Recommendation: Good to sell around 2.0180, with stop loss of 2.0270 and target price of 2.0100
