• EUR/NZD eased on Thursday following the European Central Bank's 25 basis point rate cut.
• The central bank's inflation forecasts were largely maintained just below 2%, while the growth outlook was revised downward and core inflation was slightly increased.
• The rate cut was widely anticipated, and the central bank did not offer much clarity regarding its future actions.
• Technical are bearish, daily RSI is negative at 46, daily momentum studies 9 and 10 DMAs are trending down .
• Immediate resistance is located at 1.8002(38.2%fib), any close above will push the pair towards 1.8106(Aug 23rd high)
• Support is seen at 1.7889 (50%fib) and break below could take the pair towards 1.7780(61.8%fib)
Recommendation: Good to sell around 1.7910, with stop loss of 1.8020 and target price of 1.7820
