• EUR/NZD fell sharply on Thursday after Eurozone PMI data showed euro zone manufacturing activity contracted in December.
• Data showed Manufacturing slowdown in the Eurozone deepened in December, with little indication of a near-term recovery .
• HCOB's euro zone manufacturing Purchasing Managers' Index, compiled by S&P Global, dipped to 45.1 in December.
• The gloomy data signals that the Eurozone’s manufacturing sector faces significant headwinds moving into 2025.
• Immediate resistance is located at 1.8420(38.2%fib), any close above will push the pair towards 1.8512(Daily high).
• Immediate support is seen at 1.8311(50%fib) and break below could take the pair towards 1.8202(61.8% fib).
Recommendation: Good to sell round1.8350, with stop loss of 1.8430 and target price of 1.8290
