• EUR/NZD declined on Thursday as the pair attracted selling interest on concerns Trump will unleash a global trade war.
• Trump's latest tariff warning targets pharmaceuticals, semiconductor chips, wood, and car imports, set to begin by April 2. This has fueled fears of a broader trade war, unsettling investors.
• The market stays cautious, awaiting further details on the implementation of these tariffs and potential negotiations that could affect 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 1.8319(38.2fib), any close above will push the pair towards 1.8400(Feb 19th high)
• Support is seen at 1.8179(50%fib) and break below could take the pair towards 1.8024(61.8%fib)
Recommendation: Good to sell around 1.8250 with stop loss of 1.8240 and target price of 1.8160
