• EUR/NZD steadied on Friday as the euro found support from stronger-than-expected French inflation figures.
• France’s harmonized inflation rate rose to 0.8% year-on-year in June, up from May’s 0.6%, its lowest reading since December 2020.
• Despite the increase, France continues to record among the lowest inflation rates in the euro zone this year.
• The European Central Bank cut interest rates earlier this month, with President Christine Lagarde saying it was in a good position as inflation fell below the ECB's 2% target.
• From a technical perspective, bullish signals remain intact. Daily momentum studies continue to rise, and short-term moving averages—the 5-, 10-, and 21-day—are trending higher, suggesting sustained upward pressure.
• Immediate resistance is located at 1.9386(Daily high), any close above will push the pair towards 1.9510(38.2% fib)
• Strong support is seen at 1.9300 (50% fib) and break below could take the pair towards 1.9213 (14EMA).
Recommendation: Good to buy around 1.9320 , with stop loss of 1.9150 and target price of 1.9390


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