• EUR/NZD dippedon Wednesday as investors continued to assess Middle East tensions and potential supply disruptions..
• Uncertainty surrounding shipping through the Strait of Hormuz continues, with no clear signs of progress toward a peace agreement, keeping geopolitical risks elevated.
•Meanwhile, the Federal Reserve's July meeting minutes showed that policymakers were concerned about persistent inflation, with several of them ready to hike interest rates.
• Australia’s July employment report is due at 0130 GMT, with economists expecting employment to increase by 15,000 and the unemployment rate to remain at 4.4%..
• Immediate resistance is located at 1.9760(Higher BB), any close above will push the pair towards 1.9806(50% fib).
• Support is seen at 1.9654(38.2% fib) and break below could take the pair towards 1.9562 (Lower BB )
Recommendation: Good to sell around 1.9750 with stop loss of 1.9850 and target price of 1.9650
