• EUR/NZD edged higher on Monday but gains were capped as investors monitored Middle East tensions and the inflation risks posed by rising oil prices..
• Markets also weighed a report saying the U.S. had accepted a temporary waiving of sanctions on Iranian crude.
• Tehran sent a new peace proposal with terms that appeared similar to offers that Washington had previously rejected, although an official said the U.S. has softened its stance on some issues..
• Oil prices rose as investors digested the latest developments. U.S. crude added $3.24 to settle at $108.66 a barrel. Brent crude gained $2.84 to $112.10
• Immediate resistance is located at 2. 0000 (38.2%fib), any close above will push the pair towards 2.0108 (higher BB)
• Immediate support is seen at 1.9774 (38.2%fib) and break below could take the pair towards 1.9585(Lower BB).
Recommendation: Good to sell around 1.9840 with stop loss of 1.9900 and target price of 1.9700
