• EUR/NZD eased on Friday after the European Central Bank delivered a widely expected 25-basis-point rate cut.
• The ECB reduced its interest rates by 25 bps, following a similar-sized cut in September, which marked its first back-to-back rate cuts in 13 years.
• However, the central bank did not provide any indication about future moves in its statement and instead repeated its mantra that decisions will be data-dependent.
• EUR/NZD has seen a 1.7886-1.7857 range on Friday, chart points to drop towards 1.7750 level.
• Immediate resistance is located at 1.7787(Daily high), any close above will push the pair towards 1.7952(38.2%fib)
• Support is seen at 1.7842 (23.6%fib) and break below could take the pair towards 1.7774(Oct 7th low)
Recommendation: Good to sell around 1.7880, with stop loss of 1.7960 and target price of 1.7800
