• EUR/NZD slid sharply on Friday as renewed U.S. trade tensions, fueled by President Trump's latest tariff threats, triggered fresh selling pressure on the pair.
• U.S. President Donald Trump unexpectedly threatened a 50% tariff on European Union goods and a separate 25% levy on Apple iPhones not manufactured in the U.S.
• These announcements caught markets off guard, reigniting fears of a trade war escalation and global economic disruption.
• Following headline news , EUR/USD dropped sharply lower, reaching 1.1375 ,its lowest level since May 20th.
• Technical signals are bearish as RSI is heading down at 47, daily momentum studies 11, 14 and 21 DMAs are trending down.
• Immediate resistance is located at 1.9058 (38.2%fib), any close above will push the pair towards 1.9197(Higher BB)
• Strong support is seen at 1.8854(Lower BB ) and break below could take the pair towards 1.8803(23.6%fib).
Recommendation: Good to sell around 1.9000, with stop loss of 1.9050 and target price of 1.8850.
