• EUR/NZD slipped lower sharply as investors cheered a sudden reversal by the U.S. on tariffs.
• Trump moved to temporarily ease new tariffs just under a day after they began, even as he sharply increased duties on Chinese imports from 104% to 125%.
• He also suspended targeted tariffs on other countries for 90 days to allow room for negotiations.
• The news brought some relief to markets shaken by ongoing shifts in U.S. tariff policy and global retaliation, though uncertainty especially around the impact on China persisted.
• From a technical viewpoint, RSI is strongly bullish at 62, daily momentum studies, 5, 10 and 11 daily MAs all climb.
• Immediate resistance is located at 1.9567 (38.2% fib), any close above will push the pair towards 1.9953 (23.6%fib).
• Immediate support is seen at 1.9232 (50% fib) and break below could take the pair towards 1.9056 (61.8%fib).
Recommendation: Good to buy on dips around 1.9450 with stop loss of 1.9360 and target price of 1.9600
