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• EUR/NZD slipped lower on Wednesday as markets position ahead of monetary policy decision from the RBNZ .
• New Zealand’s central bank held rates steady, but a split vote signalled rising pressure for earlier and larger hikes due to global energy-driven inflation risks.
•The Reserve Bank of New Zealand kept the OCR unchanged at 2.25%, with a split vote of three members favoring a hike and three favoring no change.
• RBNZ Governor Anna Breman cast the deciding vote, marking the first tiebreaker since the Monetary Policy Committee was formed in 2019..
• Immediate resistance is located at 1.9752(38.2%fib), any close above will push the pair towards 1.9796(SMA 20).
• Immediate support is seen at 1.9623(Lower BB) and break below could take the pair towards 1.9504(23.6%fib).
Recommendation: Good to sell around 1.9760 with stop loss of 1.9820 and target price of 1.9640
