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FxWirePro : EUR/NZD holds ground ahead of market catalysts

• 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

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