• EUR/NZD strengthened on Wednesday as euro attracted bid ahead of key Euro Zone data.
• On the data front, Germany’s Wholesale Price Index is due on Thursday, offering clues on producer-level inflation and overall price pressures.
· Eurozone Employment Change and the revised Q1 GDP estimate will follow, shedding light on labor market strength and updated economic growth trends in the region.
• These figures are expected to provide a clearer picture of the euro area’s labor market resilience and overall economic performance in the first quarter of 2025.
• Immediate resistance is located at 1.8217 (38.2% fib), any close above will push the pair towards 1.8303 (23.6% fib).
• Strong support is seen at 1.8146 (50% fib) and break below could take the pair towards 1.8076 (61.8% fib )
Recommendation: Good to buy around 1.8920, with stop loss of 1.8850 and target price of 1.8980
