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FxWirePro: EUR/NZD uptrend loses steam, remains on bullish path

• EUR/NZD eased on Wednesday as euro was weighed down by  r an unexpected decline in German business morale. 

• German business sentiment slipped unexpectedly in September, a Wednesday survey showed, underscoring persistent weakness in the economic outlook.

• Germany’s Ifo business climate index fell to 87.7 in September from a revised 88.9 in August, missing the Reuters forecast of 89.3.

• Germany’s economy contracted 0.3% in Q2 from Q1, as slowing U.S. demand—after months of front-loaded buying ahead of Trump’s tariffs—kept growth under pressure.

•  Immediate resistance is located at 2.0210(23.6%fib), any close above will push the pair towards 2.0293(Higher BB)

• Strong support is seen at 2.0000 (Psychological level) and break below could take the pair towards 1.9883(38.2%fib).

Recommendation: Good to buy  around 2.0150, with stop loss of 2.000 and target price of 2.250
 

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