• EUR/NZD initially fell on Thursday but recovered ground as Investors digested ECB rate decision.
•The ECB cut rates as expected on Thursday but signaled a possible pause in its easing cycle as inflation hit the 2% target.
•The ECB has cut rates eight times since last June, totaling 2 percentage points, to support a weak eurozone economy hit further by unstable U.S. trade policies.
•EUR/NZD has seen a 1.8870 -1.8976 range on Thursday.Today's bounce away from support 1.8870(61.8% fib) may be beginning of bull sign
• Immediate resistance is located at 1.9000(Psychological level), any close above will push the pair towards 1.9211(50% fib).
• Strong support is seen at 1.8870(61.8% fib) and break below could take the pair towards 1.8795 (Lower BB )
Recommendation: Good to buy around 1.8950 with stop loss of 1.8860 and target price of 1.9100
