• EUR/NZD advanced on Thursday as easing pressures on bond market also supported euro .
• Euro zone bond yields cooled, with German 30-year bond yield down to 3.3439%. Its French counterpart eased to 4.402% after hitting its highest since June 2009 on worries that its government could collapse again..
• Meanwhile, Eurostat data on Thursday showed eurozone retail sales growth lost momentum in July, fueling worries that consumer demand may no longer offset pressure from U.S. tariffs.
• Eurozone retail sales fell 0.5% in August, worse than the expected 0.2% drop, while annual growth stood at 2.2%, below forecasts of 2.4%.
• Technical are favouring bullish sentiment as RSI is at 63 and the pair is trading above 5,9 SMAs.
• Immediate resistance is located at 2.0033( 23.6%% fib), any close above will push the pair towards 2.0065 ( Higher BB)
• Support is seen at 1.9822(SMA 20) and break below could take the pair towards 1.9709(38.2% fib)
Recommendation: Good to buy 1.9900 with stop loss of 1.9820 and target price of 2.0000
