FxWirePro: EUR/NZD downside pressure builds, key support levels in focus

• EUR/NZD slipped lower on Monday  as investors took a breather following the recent relief rally sparked by the Israel-Iran ceasefire.

• Ursula von der Leyen and Donald Trump signed a deal lowering tariffs on European goods to 15%, down from the 30% announced earlier in July.

• In return, the Eurozone agreed to invest €600 billion in the U.S. and increase purchases of gas and military hardware.

• Europe’s deal comes after U.S. agreements with Japan, Indonesia, and the Philippines last week, as other nations rush to strike deals before Trump’s August 1 deadline.

• From a technical perspective, RSI has turned lower, and short-term moving averages—the 9-, 14-, and 21-day—are trending down.

•  Immediate resistance is located at 1.9505 (SMA 9), any close above will push the pair towards 1.9649(38.2% fib)

• Strong  support is seen at 1.9393(50% fib) and break below could take the pair towards 1.9269 (June 30th low).

Recommendation: Good to sell around 1.9430 , with stop loss of 1.9500 and target price of 1.9370