• EUR/ NZD dipped as upbeat New Zealand’s manufacturing data and improved risk sentiment supported kiwi dollar.
• Risk sentiment improved after Trump said Wednesday he has no plans to fire Fed Chair Jerome Powell despite a Justice Department probe, though he added it was “too early” to make a final decision.
• On the data front, New Zealand’s manufacturing sector grew robustly in December, hitting a four-year high, according to a recent survey.
• New Zealand’s Business NZ Performance of Manufacturing Index rose to 56.1 in December, up 4.4 points from November.
• New Zealand’s economic calendar is light, with December manufacturing PMI due on Friday.
• Immediate resistance is located at 2.0269(38.2% fib), any close above will push the pair towards 2.0398 (Higher BB).
• Immediate support is seen at 2.0125(Lower BB) and break below could take the pair towards 2.0012 (23.6% fib).
Recommendation: Good to sell around 2.0230, with stop loss of 2.0350 and target price of 2.0150
