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FxWirePro :EUR/NZD positions for another climb, eyes 1.9100 level

• EUR/NZD rose on Thursday as investors reacted to weaker U.S. economic data and a court ruling blocking most of President Trump's tariffs.

• Data showed that the number of Americans filing new applications for unemployment benefits increased more than expected last week.

• A second reading from the Commerce Department showed gross domestic product contracted 0.2% in the first quarter.

• Investors are now bracing for a showdown over President Trump's tariff plans after a U.S. trade court blocked most of the proposed levies on Wednesday.

•Immediate resistance lies at 1.9217 (38.2%fib  ), a close above could push the pair toward 1.9303(April 30th high).

•Support is at 1.9005 (SMA5), and a break below this may lead the pair down to 1.8917(50%fib  ).

Recommendation: Good to buy  around 1.9000, with stop loss of 1.8900 and target price of 1.9100

 

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