• EUR/NZD dipped on Friday 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.
• S&P Global’s flash PMI surveys released on Friday indicated that the 21-country eurozone remained resilient in August despite disruptions caused by the U.S.-Israeli war with Iran, following 0.4% growth in the second quarter.
• 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 1.950523.6% fib) and break below could take the pair towards 1.9446(23.6%fib )
Recommendation: Good to sell around 1.9550 with stop loss of 1.9650 and target price of 1.9500
