FxWirePro: EUR/NZD uptrend loses steam but outlook still bullish

• EUR/NZD eased on Thursday as the ECB held interest rates steady and raised its forecasts, while President Christine Lagarde said policymakers would keep all options on the table. 

• ECB President Christine Lagarde said the central bank is “in a good place” but stressed the stance is not “static”, signalling that rates could still be adjusted on a meeting-by-meeting basis.

• Lagarde repeated that rate decisions would be taken meeting by meeting in response to fresh data, stressing there is no pre-set path for borrowing costs...

• The ECB maintained its view that inflation will fall below the 2% target next year and in 2027 thanks to lower energy prices, before rebounding to target in 2028, while noting that services inflation could decline more slowly due to wage dynamics.

• Immediate resistance is located at 2.0408(Dec16th high), any close above will push the pair towards 2.0509(Higher BB).

• Immediate support is seen at 2.0290 (50% fib) and break below could take the pair towards 2.0035(Lower BB).

Recommendation: Good to buy  around 2.0300 with stop loss of 2.0200 and target price of 2.0380