• EUR/NZD consolidated 2.0200 on Monday as investors dialed back recent war-related fears, shifting focus to the looming deadline set by Donald Trump for Iran to reach an agreement..
• In its response to the U.S. proposal, Tehran resisted calls to quickly reopen the Strait of Hormuz under a temporary ceasefire, insisting instead on a permanent end to the conflict.
• President Donald Trump, who warned he would unleash “hell” on Tehran if it failed to reach a deal by his 8 p.m. EDT Tuesday (midnight GMT) deadline to reopen the key global energy route, dismissed Iran’s proposal as “not good enough” and insisted the deadline was final.
• The Hormuz closure has pushed oil prices well above $100 per barrel, stoking fears of high inflation and upending the outlook for interest rates across the world.
• Immediate resistance is located at 2.0266 (April 5th high), any close above will push the pair towards 2.0333(23.6%fib).
• Immediate support is seen at 2.0182 (April 6th) and break below could take the pair towards 2.0100(Psychological level).
Recommendation: Good to buy around 2.0200 with stop loss of 2.0150 and target price of 2.0260
