• EUR/NZD pair initially dipped but later recovered some ground as investors assessed U.S. President Donald Trump's latest tariff threat.
• Trump told reporters Tuesday that tariffs on pharmaceuticals and semiconductor chips would start at "25% or higher," increasing over the year. He plans to impose similar tariffs on autos by April 2.
• The market remains cautious, awaiting more details on the implementation of these tariffs and any potential negotiations that could impact global trade relations.
• The technical outlook remains bearish and points to eventual bigger drop, fourteen-day momentum is negative, reinforcing the scope for a bigger drop
• Immediate resistance is located at 1.8363(38.2fib), any close above will push the pair towards 1.8498(Higher BB)
• Support is seen at 1.8241(50%fib) and break below could take the pair towards 1.8201(Lower BB)
Recommendation: Good to sell around 1.8370 with stop loss of 1.8440 and target price of 1.8290
