•EUR/NZD inched up but gains were limited as investors digested ECB rate decision and Lagarde comments.
•The ECB maintained interest rates at 2% for the third consecutive time on Thursday, reaffirming confidence in its current policy stance as the eurozone shows stable growth and inflation.
•Thursday saw a flurry of European data releases, including upbeat eurozone business sentiment, a faster rise in Germany’s October CPI, and the release of Q3 GDP figures.
•On the trade front, the U.S. reached an agreement to reduce tariffs on China in return for Beijing resuming soybean imports, maintaining rare earth exports, and curbing fentanyl trafficking..
• Immediate resistance is located at 2.0211 ( SMA 20), any close above will push the pair towards 2.0380 (23.6%fib% fib)
•Support is seen at 2.0080 (38.2% fib) and break below could take the pair towards 1.9967 (Lower BB).
Recommendation:Be on sidelines
