FxWirePro : EUR/NZD outlook weaker on renewed downside pressure

•  EUR/NZD pair traded lower on Tuesday as the New Zealand dollar strengthened on improving market sentiment after reports indicated Iran may permit Europe to clear mines in the Strait of Hormuz.

•  Qatar said on Tuesday that mediators were making progress toward ending the U.S.-Iran conflict, weighing on oil prices, although Tehran rejected President Donald Trump's claim that negotiations were already underway.

• Treasury Secretary Scott Bessent and Secretary of State Marco Rubio expressed optimism that talks to reopen the Strait of Hormuz were advancing.

• Market participants are now awaiting a series of U.S. jobs reports this week, including ​the ADP employment report on Wednesday and the nonfarm payrolls ​data on ⁠Friday..

•   Immediate resistance is located at 1.9647(38.2% fib), any close above will push the pair towards 1.9827 (50% fib).

• Support is seen at 1.9525(March 11th low) and break below could take the pair towards 1.9420 (23.6% fib )

Recommendation: Good to buy around 1.9570 with stop loss of 1.9640  and target price of 1.9500