• EUR/NZD dipped slightly as caution remained amid uncertainty over the U.S.-Iran ceasefire.
• The truce appeared fragile, as Iran targeted Gulf oil facilities while Israel launched its largest attacks yet on Lebanon.
• The five-week war has rattled investor confidence, causing the biggest-ever disruption to global oil and gas supply.
• The fragile truce has increased Iran’s control over shipping through the Strait of Hormuz compared to pre-war levels.
• Immediate resistance is located at 2.0081(50%fib), any close above will push the pair towards 2.0295(38.2fib).
• Immediate support is seen at 1.9963 (SMA 20) and break below could take the pair towards 1.9845 (61.8%fib).
Recommendation: Good to sell around 2.0030 with stop loss of 2.0130 and target price of 1.9950
