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FxWirePro: EUR/ NZD reverses recent rally, bias back to downside

• EUR/NZD slipped  lower on Wednesday as investors remained cautious over the ongoing U.S.-Iran standoff and broader Middle East tensions

• Attention stayed on headlines surrounding efforts by the U.S. and Iran to reach an agreement to end the war. .

• Donald Trump said U.S.-Iran talks were in their final phase and cautioned that further strikes remain possible without an agreement.l..

• Oil prices edged lower on the day, though markets remained cautious about the economic impact of elevated crude prices.

• Immediate resistance is located at  1. 9830 (SMA 20 ), any close above will push the pair towards 2.0061 (50%fib)

• Immediate support is seen at 1.9814 (38.2%fib) and break below could take the pair towards 1.9588(LowerBB).

 Recommendation: Good to sell around 1.9850 with stop loss of 1.9950  and target price of 1.9750

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