EUR/NZD lacked clear direction on Wednesday as attention turned towards the European Central Bank's policy meeting on Thursday .
•The European Central Bank is likely to cut interest rates again on Thursday, while leaving future options open despite growing calls for a pause in its year-long easing cycle.
• The European Central Bank has implemented seven rate cuts since June last year in response to sluggish growth and low inflation.
• Money markets are almost certain the ECB will cut rates by 25 basis points on Thursday, lowering the region’s benchmark rate to 2%.
• Immediate resistance is located at 1.9144 (50%fib), any close above will push the pair towards 1.9192(Higher BB).
• Immediate support is seen at 1.8848(61.8%fib) and break below could take the pair towards 1.8793(Lower BB).
Recommendation: Good to buy around 1.8930, with stop loss of 1.8820 and target price of 1.9000
