• EUR/NZD declined on Wednesday as investors digested a wave of global economic data, including U.S. and Eurozone indicators.
• U.S. gross domestic product contracted at a 0.3% annualized rate last quarter, driven by a surge in imports ahead of new import duties.
• The eurozone economy grew faster than expected in Q1 2025, with inflation easing—offering a strong start to the year before facing headwinds from the U.S. trade war, a strengthening euro, and weakening sentiment.
•Germany’s GDP grew by 0.2% in Q1, matching forecasts, according to preliminary data from the statistics office.
• EUR/NZD has seen range 1.9268-1.9066 the pair was last trading at 1.9074.
• Immediate resistance is located at 1.9252 (50% fib), any close above will push the pair towards 1.9346 (April `6th high).
• Immediate support is seen at 1.8955 (61.8% fib) and break below could take the pair towards 1.8809 (Lower BB).
Recommendation: Good to buy round 1.8970, with stop loss of 1.8900 and target price of 1.9090
