• EUR/NZD strengthened on Wednesdayas New Zealand dollar weakened following the release of GDP data.
· New Zealand's economy posted a modest gain in the fourth quarter, below analyst expectations.
·Official data released on Thursday showed New Zealand’s Q4 GDP rose 0.2% quarter-on-quarter, falling short of both analysts’ expectations of 0.4%.
·The underperformance underscores concerns about New Zealand’s economic momentum heading into 2026, raising questions about the pace of recovery post-pandemic and the resilience of its domestic economy..
• Immediate resistance is located at 1.9846(Higher BB), any close above will push the pair towards 1.9964(50%fib).
• Immediate support is seen at 1.9752(38.2%fib) and break below could take the pair towards 1.9687(SMA 20).
Recommendation: Good to buy around 1.9750 with stop loss of 1.9700 and target price of 1.9850
