FxWirePro: EUR/ NZD outlook weaker on renewed downside pressure

• EUR/ NZD declined on Friday as rebound risk sentiment and higher metal prices lifted kiwi dollar .

• Mixed jobs report showing unemployment at a decade high despite strong employment growth prompted markets to scale back expectations of a near-term rate hike..

• Traders are largely pricing in the next rate hike for October, with a September increase seen as about 70% likely.

• The Reserve Bank of New Zealand is scheduled to meet on February 18, marking the first policy meeting under its new governor, Anna Breman.

• The Reserve Bank of New Zealand will release updated economic and rate projections, with markets watching whether it keeps mid-2027 as the expected timing for the first rate hike.

• Immediate resistance is located at 1.9825(38.2% fib), any close above will push the pair towards 1.9922 (SMA 20).

• Immediate support is seen at 1.9534(23.6% fib) and break below could take the pair towards 1.9461 (Lower BB).

• Recommendation: Good to sell around 1.9650, with stop loss of 1.9700 and target price of 1.9540