•EUR/NZD declined on Wednesday as renewed optimism surrounding trade agreements boosted risk-sensitive currencies like kiwi dollar.
• Trump reached a trade agreement with Japan with just over a week remaining before an August 1 deadline.
•Tokyo sidestepped steep U.S. tariffs by agreeing to a $500 billion investment and loan deal, marking the biggest trade pact since Trump’s “liberation day” tariff move.
•The EU and U.S. are close to finalizing a trade deal that would introduce 15% tariffs on European imports while exempting certain goods, European Commission officials said.
• Flash Purchasing Managers' Index (PMI) data for France, Germany, and the broader euro zone are set to be released ahead of the European Central Bank's (ECB) policy meeting, where the central bank is widely expected to keep interest rates unchanged
• Immediate resistance is located at 2.2553(SMA 20), any close above will push the pair towards 2.2660 (50% fib).
• Support is seen at 2.2376 (61.8% fib) and break below could take the pair towards 2.2326 (Lower BB )
Recommendation: Good to buy around 2.2380, with stop loss of 2.2260and target price of 2.2480
