FxWirePro: EUR/ NZD downtrend loses steam but outlook still bearish

• EUR/NZD pair moved slightly higher on Friday as geopolitical tensions in the Middle East kept investors on edge.

• U.S. Secretary of State Marco Rubio said there had been some progress toward a deal with Tehran, though more work remained, marking the latest development in the U.S.-Iran standoff following Washington’s suspension of bombing under a fragile ceasefire in early April.

• Key disagreements between Tehran and Washington remain centered on Iran’s uranium stockpile and control of the Strait of Hormuz, while crude oil prices rose 1% to around $103 a barrel amid broader uncertainty..

• Analysts expect any deal that reopens the strategic Strait of Hormuz to support Euro   , which has underperformed peers due to the region’s reliance on costly oil imports since the war began.

•On the ​data front, German consumer sentiment recovered heading into June, while a separate reading confirmed that ​the economy grew ⁠by 0.3% in the first quarter of 2026.

• Immediate resistance is located at  1. 9844 (Daily high ), any close above will push the pair towards 1.8854 (50%fib)

• Immediate support is seen at 1.9749 (38.2%fib) and break below could take the pair towards 1.9668(LowerBB).

 Recommendation: Good to sell around 1.9850 with stop loss of 1.9950  and target price of 1.9750