FxWirePro: EUR/NZD set for increasing downside potential, eyes 1.8900 level

• EUR/NZD slipped lower sharply as kiwi dollar climbed against euro rising risk appetite amid easing tariff concerns.

• China's Commerce Ministry announced that Beijing is currently 'evaluating' Washington's offer to engage in discussions regarding the 145% tariffs imposed by U.S. President Donald Trump.

• The statement also emphasized that China is open to dialogue, signaling a potential willingness to negotiate and ease the ongoing trade tensions between the two nations. 

• The news brought some relief to markets shaken by ongoing shifts in U.S. tariff policy and global retaliation.

• From a technical viewpoint, RSI  is   bearish at 46, daily momentum studies, 5, 10 and 11 daily  MAs  are trending down.

• Immediate resistance is located at 1.9107 (SMA 14), any close above will push the pair towards 1.9223 (50%fib).

• Immediate support is seen at 1.8975 (38.2% fib) and break below could take the pair towards 1.8792 (April 2nd low).

Recommendation: Good to sell around 1.9040 with stop loss of 1.9120 and target price of 1.8900