• EUR/ NZD initially gained but gave up ground on Friday as investors reacted news of Iran's decision to reopen the strategic Strait of Hormuz .
• The vital waterway can be used by all commercial vessels for the remainder of the truce agreed in Lebanon, Iranian Foreign Minister Abbas Araqchi said .
• The pan-European stock index climbed 1.6% to 626.58 points, close to levels seen before the beginning of the conflict.
• Euro zone short-dated government bond yields dropped sharply to one-month lows, while money markets scaled back bets on future ECB rate hikes.
• On the economic front, European Central Bank President Christine Lagarde said the ECB needed to remain vigilant as the war could drag euro zone growth lower and push inflation above already increased projections.
• Immediate resistance is located at 2.0041(SMA 20), any close above will push the pair towards 2.0101(50%fib).
• Immediate support is seen at 1.9932 (50%fib) and break below could take the pair towards 1.9863(March 25th low).
Recommendation: Good to sell around 2.0050 with stop loss of 2.0100 and target price of 1.9950
