• EUR/NZD eased slightly on Thursday as investors took a breather following the recent relief rally sparked by the Israel-Iran ceasefire.
• The easing of geopolitical tensions had boosted risk appetite earlier in the week, but market participants are now shifting focus to upcoming economic data and central bank signals.
• Investors focus now turns on trade talks ahead of Trump’s July 9 Tariff deadline set by U.S. President Donald Trump for potential new tariffs on major trading partners.
• With global trade tensions simmering, markets are focused on whether ongoing negotiations can avert another round of duties.
• From a technical perspective, bullish signals remain intact. Daily momentum studies continue to rise, and short-term moving averages—the 5, 10, and 21-day—are trending higher, suggesting sustained upward pressure.
• Immediate resistance is located at 1.9410(50% fib), any close above will push the pair towards 1.9527(Higher BB)
• Strong support is seen at 1.9230(June 25th low) and break below could take the pair towards 1.9114 (61.8% fib).
Recommendation: Good to buy around 1.9300 , with stop loss of 1.9150 and target price of 1.9390
