• EUR/NZD initially gained but gave up ground as markets digested a heavy flow of headlines related to the Middle East conflict .
• Trump threatened to destroy Iran's energy sites if it refuses to open the Strait of Hormuz, after Tehran rejected US peace overtures and launched missiles at Israel.
• Data showed that inflation in Germany, the euro zone's largest economy, gathered pace in March due to surging energy prices, and economists even see further increases ahead.
• Investors continued to monitor expectations of monetary easing. Money markets are pricing in three 25-basis-point rate hikes from the European Central Bank by the end of 2026
• ECB's Villeroy said the central bank is determined to prevent energy-driven inflation from broadening, but it is too early to discuss rate hike timing.
• Immediate resistance is located at 2.0104 (38.2%fib), any close above will push the pair towards 2.0173 (236%fib).
• Immediate support is seen at 1.9996 (38.2%fib) and break below could take the pair towards 1.9881(38.2%fib).
Recommendation: Good to buy around 2.0060 with stop loss of 1.9950 and target price of 2.130
