FxWirePro: EUR/NZD range-bound as markets await progress on a U.S.-EU trade deal

• EUR/NZD traded in tight range  on Wednesday as investors awaited signs of progress on a trade accord between the United States and the European Union  

• EU and U.S. negotiators are discussing tariff cuts, quotas, and export credits to protect the EU auto industry.

• Trump stated that trade negotiations are progressing well with both China and the European Union, the U.S.'s largest bilateral trading partner.

• Trump said he would "probably" inform the EU within two days of the tariff rate on its exports to the U.S., noting that the 27-nation bloc had become significantly more cooperative in recent talks.

• Immediate resistance is located at 1.9584( 38.2% fib), any close above will push the pair towards 1.9636( Higher BB)

• Support is seen at 1.9355(July 4th low) and break below could take the pair towards 1.9254(50% fib).

Recommendation: Good to bul around 1.9500, with stop loss of 1.9430 and target price of 1.9590