FxWirePro: EUR/NZD shows upside momentum, but bearish outlook remains

• EUR/NZD strengthened on Thursday as euro benefited from more hawkish than expected ECB monetary policy projections for 2026.

• Robust economic data and remarks from ECB policymaker Isabel Schnabel, who indicated a rate hike was more likely than a cut, prompted investors to rule out a 2026 ECB rate reduction.

• ECB President Christine Lagarde said Wednesday that the central bank could upgrade its growth outlook again in December, pointing to the economy’s unexpectedly strong resilience to uncertainty and trade tensions.

• Investors are pricing in nearly zero probability of any policy shift at the ECB’s December 18 meeting, anticipating steady rates for an extended period as inflation remains near the 2% goal.

• Immediate resistance is located at 2.0225(Daily high), any close above will push the pair towards 2.0335(38.2fib).

• Immediate support is seen at 2.0067 (50%fib) and break below could take the pair towards 2.0000(Psychological level).

Recommendation: Good to sell around 2.0220 with stop loss of 2.0300 and target price of 2.0000