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• EUR/NZD eased on Wednesday as euro was weighed down by r an unexpected decline in German business morale.
• German business sentiment slipped unexpectedly in September, a Wednesday survey showed, underscoring persistent weakness in the economic outlook.
• Germany’s Ifo business climate index fell to 87.7 in September from a revised 88.9 in August, missing the Reuters forecast of 89.3.
• Germany’s economy contracted 0.3% in Q2 from Q1, as slowing U.S. demand—after months of front-loaded buying ahead of Trump’s tariffs—kept growth under pressure.
• Immediate resistance is located at 2.0210(23.6%fib), any close above will push the pair towards 2.0293(Higher BB)
• Strong support is seen at 2.0000 (Psychological level) and break below could take the pair towards 1.9883(38.2%fib).
Recommendation: Good to buy around 2.0150, with stop loss of 2.000 and target price of 2.250
