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FxWirePro: EUR/ NZD dips below lower range, bearish bias increases

• EUR/NZD dipped Monday as improved risk sentiment and stronger China industrial production and retail sales data supported the kiwi dollar..

• Risk sentiment strengthened as markets responded to de-escalation signals from President Donald Trump, along with ongoing geopolitical shifts and upbeat Chinese economic data..

• China’s industrial production increased 6.3% year-on-year in January–February, accelerating from 5.2% and exceeding the 5.1% consensus forecast.

• China’s retail sales rose 2.8% year-on-year in the first two months of 2026, according to the National Bureau of Statistics.

• Immediate resistance is located at 1.9682(SMA 20), any close above will push the pair towards 1.9802(38.2%fib).

• Immediate support is seen at 1.9525(23.6%fib) and break below could take the pair towards 1.9496(Lower BB).

 Recommendation: Good to sell around 1.9680 with stop loss of 1.9770  and target price of 1.9600

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