• EUR/NZD held relatively firm on Tuesday as geopolitical tensions in the Middle East kept markets on edge.
• The ongoing conflict between Israel and Iran continued to weigh on overall risk sentiment, keeping investors cautious and favoring safe-haven assets.
• German investor sentiment improved sharply in June, rising more than expected, according to the ZEW economic research institute.
• The ZEW Economic Sentiment Index surged to 47.5 points from 25.2 in May, signaling growing optimism about the outlook for Europe’s largest economy.
• Meanwhile, investors are bracing for the U.S. Federal Reserve’s policy decision due on Wednesday, with policymakers widely expected to keep interest rates unchanged.
•Immediate resistance lies at 1.9162(May 23rd high ), a close above could push the pair toward 1.9224(38.2% fib).
•Support is at 1.9045 (50% fib), and a break below this may lead the pair down to 1.8876 (61.8% fib).
Recommendation: buy around 1.9050, with a stop loss at 1.8900 and a target price of 1.9120.
