FxWirePro: EUR/NZD extends fall, vulnerable to more downside

• EUR/NZD fell on Thursday as the kiwi gained support from improved risk sentiment after U.S. President Donald Trump eased tariff threats and ruled out using force to seize Greenland.

•  Trump said after meeting NATO chief Mark Rutte that Western Arctic allies could strike a new Greenland deal to meet his goals on missile defense and critical minerals access.

•  Looking ahead, New Zealand’s CPI inflation data is set to take center stage on Friday, with investors seeking fresh clues on the inflation trajectory and monetary policy outlook.

• The headline CPI for New Zealand is forecast to rise 0.5% quarter-on-quarter (Q4), with the annual CPI expected to increase 3.0% over the same period.

• Technical signals are bearish as RSI is at 39, daily momentum studies 5, 11 and 21 DMAs are trending down.

• Immediate resistance is located at 2.0064(38.2%fib ), any close above will push the pair towards 2.0190 (SMA 20).

• Strong support is seen at 1.9823(23.6%fib) and break below could take the pair towards 1.9775(Lower BB).

 Recommendation: Good to sell on rallies around 1.9980 with stop loss of 2.0100 and target price of 1.9900