• EUR/NZD eased on Friday as tariff threats and uncertainty surrounding the proposed Ukraine ceasefire continued to impacted investor sentiment.
• Investors have become increasingly concerned that trade tensions between the U.S. and Europe could escalate after the European Union retaliated against the U.S. tariffs on steel and aluminum.
• In response, U.S. President Donald Trump threatened to impose a 200% tariff on European wine and spirit imports.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 70 bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.9052(Daily high), any close above will push the pair towards 1.143(23.6% fib).
• Strong support is seen at 1.8894(38.2% fib) and break below could take the pair towards 1.8797(March 7th low )
Recommendation: Good to buy around 1.8900, with stop loss of 1.8750 and target price of 1.9000
