• EUR/NZD initially firmed but lost ground as markets remained cautious ahead of the ECB rate decision.
• The European Central Bank is expected to cut interest rates for the seventh time this year on Thursday, aiming to support an economy already struggling and set to be further impacted by U.S. tariffs.
•Investors closely will analyze Lagarde's comments for insights into future policy direction as these comments can significantly affect market behavior.
•Investors will also want to see if she offers any signal beyond the usual that ECB decisions are "data-dependent" and will be taken meeting by meeting .
• On the data front, Eurozone inflation dropped to 2.2% in March, according to the latest data from Eurostat on Wednesday, down from 2.3% in February..
• Immediate resistance is located at 1.9340 (April 15th high), any close above will push the pair towards 1.9446 (38.2%fib).
• Strong support is seen at 1.9137(50%fib) and break below could take the pair towards 1.9000(Psychological level )
Recommendation: Good to buy around 1.9160, with stop loss of 1.9080 and target price of 1.9280
