• EUR/ NZD eased on Monday as investors worried about the impact of surging oil prices on global inflation and economic growth..
• Iran named Mojtaba Khamenei as successor to his father Ali Khamenei as supreme leader, signaling hardliners remain firmly in power and dimming hopes for a swift end to the 10-day conflict..
• Oil prices surged above $119 a barrel as trade through the Strait of Hormuz remained halted, with supply cuts raising concerns about global inflation and interest rates.
• Immediate resistance is located at 1.9687(SMA 20), any close above will push the pair towards 1.9769(38.2%fib).
• Immediate support is seen at 1.9552(23.6%fib) and break below could take the pair towards 1.9513(Lower BB).
Recommendation: Good to sell around 1.9610 with stop loss of 1.9670 and target price of 1.9530
