• EUR/NZD traded within a narrow range ahead of a busy week of central bank decisions, headlined by the Fed.
• The main focus this week is on Wednesday’s Federal Reserve decision, with a rate cut largely priced in, but concerns linger that the committee may be deeply split.
• Central banks in Canada, Switzerland and Australia also meet this week and all are poised to hold steady.
• In contrast to the Fed, the ECB is not expected to pursue further rate cuts, with Isabel Schnabel noting that the bank’s next step might be a hike.
• Immediate resistance is located at 2.0217(Dec 5th high), any close above will push the pair towards 2.0375(38.2fib).
• Immediate support is seen at 2.0123 (50%fib) and break below could take the pair towards 1.9981(Lower BB).
Recommendation: Good to sell around 2.0180 with stop loss of 2.0250 and target price of 2.0120
