• EUR/NZD initially dipped but recovered ground on Thursday after European Central Bank cut interest rates by 25 basis points and removed its guidance on keeping rates sufficiently restrictive.
• ECB President Christine Lagarde emphasized downside risks to growth and uncertainty regarding future tariffs.
• She also noted that some policymakers were advocating for a larger half-percentage-point rate cut to address these challenges.
•Technical highlight upside risks for EUR/NZD , with momentum studies, 5, 10 and 21 SMAs tracking north.
• Immediate resistance is located at 1.8163 (38.2% fib), any close above will push the pair towards 1.8264 (23.6% fib).
• Support is seen at 1.80781 (50% fib) and break below could take the pair towards 1.7987 (61.8% fib )
Recommendation: Good to buy around 1.8140, with stop loss of 1.8050 and target price of 1.8260
