• EUR/AUD steadied on Thursday as escalating geopolitical tensions and weaker risk appetite drove investors away from risk assets.
• Tensions in the Middle East intensified after Iran issued threats targeting U.S. military bases. In response, the U.S. announced plans to reduce its personnel in the region, citing elevated security risks.
•.On the data front, The U.S. Labor Department reported that producer prices rose less than anticipated in May, held back by declining costs for services such as airfares.
•Technically, EUR/NZD continues to show upward momentum. Daily momentum indicators are aligned positively, with the 5-, 10-, and 21-day moving averages all trending higher.
• Immediate resistance is located at 1.7783 (50% fib), any close above will push the pair towards 1.8000(Psychological level).
• Strong support is seen at 1.7457(61.8% fib) and break below could take the pair towards 1.7400(Lower BB )
Recommendation: Good to buy around 1.7740 with stop loss of 1.7650 and target price of 1.7850
