• EUR/NZD rose on Monday as the euro gained strength, driven by renewed optimism for a potential Ukraine peace deal, boosting investor confidence.
• European nations, led by Britain and France, are backing Ukrainian President Zelenskiy and working on a peace plan that includes Kyiv following last week's Oval Office fallout with Trump.
• On the data front, Euro zone inflation dipped slightly, bolstering expectations of an ECB rate cut and further easing ahead.
• Euro zone inflation eased to 2.4% in February from 2.5%, slightly above the expected 2.3%, nearing the ECB's 2% target, Eurostat data showed.
• Immediate resistance is located at 1.8692(Daily high), any close above will push the pair towards 1.8735 (23.6% fib)
• Support is seen at 1.8617(38.2% fib) and break below could take the pair towards 1.8567(38.2% fib).
Recommendation: Good to buy around 1.8650 with stop loss of 1.8570 and target price of 1.8800
