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FxWirePro: EUR/NZD recovers slightly but trend is still bearish

• EUR/NZD initially dipped on Monday but regained some ground as investors assessed Trump’s warning of new tariffs on steel and aluminum imports.

• On Sunday Trump said he would announce new 25% tariffs on all steel and aluminium imports, along with other reciprocal tariffs on all countries this week..

• ECB President Christine Lagarde said trade frictions would make the eurozone's inflation outlook "more uncertain.

• The euro gained 0.18% to 1.8269 against kiwi dollar. The U.S. is the second-largest market for EU steel exports.

•  Immediate resistance is located at 1.341(38.2%fib), any close above will push the pair towards 1.8380(Feb 5th high )

• Strong  support is seen at 1.8216 (50%fib ) and break below could take the pair towards 1.8100(61.8%fib).

Recommendation: Good to sell  around 1.8250, with stop loss of 1.8320 and target price of 1.8180

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