FxWirePro : EUR/NZD slips lower on weak Eurozone data and ECB easing expectations

• EUR/NZD slipped lower on Friday as weak Eurozone economic data, and rising expectations for deeper easing by European central bank weighed on Euro.

•Data showed, inflation fell in five important German states in January, suggesting the national inflation rate could decline.

•  Eurozone CPI and retail sales data scheduled for next week could provide further evidence of economic softness in the region.         .
• The European Central Bank cut interest rates on Thursday and hinted at another potential cut in March, focusing on sluggish economic growth over persistent inflation concerns.

• Immediate resistance is located at 1.8476 (38.2% fib), any close above will push the pair towards 1.8303 (23.6% fib).

• Strong support is seen at 1.8348 (38.2% fib) and break below could take the pair towards 1.8322 (Lower BB )

Recommendation: Good to sell around 1.8400, with stop loss of 1.8600  and target price of 1.8250