FxWirePro: EUR/NZD loses momentum but retains bullish outlook

• EUR/NZD eased slightly  on Thursday as   euphoria over proposed German spending and Ukraine developments fade.

• U German spending plans lost momentum as prospective chancellor Friedrich Merz worked to gain support for his proposed changes to the debt brake..

• A Ukrainian government official said that Kyiv understood it could not recapture all its occupied territory by military force from Russian troops right now and that its recovery would have to happen diplomatically over time.

• European Central Bank (ECB) policymaker Olli Rehn has called on the U.S. administration to avoid imposing  unnecessary and very harmful  tariffs on European goods, advocating for resolution through negotiations.

• Technical signals show the pair could gain more ground in the short-term as RSI is at 71 bullish, daily momentum studies  5, 9 and 11 DMAs are trending  up.

• Immediate resistance is located at 1.9158(23.6%fib), any close above will push the pair towards 1.9237(Higher BB).

• Strong support is seen at 1.8930(38.2% fib) and break below could take the pair towards 1.8723(50% fib )

Recommendation: Good to buy around 1.9000, with stop loss of 1.8900 and target price of 1.9080