FxWirePro: EUR/NZD runs out of steam but maintains bullish outlook

• EUR/NZD eased slightly  on Wednesday as markets reacted to U.S. inflation data, signaling potential Federal Reserve rate cuts, while uncertainty over Trump’s trade policies persisted.

• U.S. consumer prices rose less than expected in February, but gains may be short-lived as tariffs on imports are set to drive up costs in the coming months.

• U.S. Commerce Secretary Lutnick said Trump's 25% tariffs on steel and aluminum will remain until domestic production strengthens, with copper set to be added.

•The European Union announced it will impose tariffs on 26 billion euros worth of U.S. goods from April. Britain did not immediately retaliate.

• Technical signals show the pair could gain more ground in the short-term as RSI is at 71 bullish, daily momentum studies  5, 9 and 11 DMAs are trending  up.

• Immediate resistance is located at 1.9203(23.6%fib), any close above will push the pair towards 1.9300(Psychological level).

• Strong support is seen at 1.8952(38.2% fib) and break below could take the pair towards 1.8747(50% fib )

Recommendation: Good to buy around 1.8900, with stop loss of 1.8750 and target price of 1.9050