FxWirePro: EUR/NZD slide lower shifts pressure to the downside

• EUR/NZD slipped lower  on Thursday as market sentiment remained cautious as higher U.S. tariffs are set to take effect on August 1, with no breakthrough in EU-U.S. trade talks yet .

• European Commission President Ursula von der Leyen said the EU is working "non-stop" to secure a low-tariff trade deal with the U.S.

• EU trade chief Maros Sefcovic said on Wednesday that good progress has been made on a framework trade agreement, and a deal may be possible within days.

• The EU is seeking tariff rollbacks in key industries including automobiles and aerospace, with one EU diplomat stressing that car tariffs are a "red line" and any deal hinges on U.S. flexibility in that area.

• Technicals are favouring bearish sentiment as RSI is at 57 and the pair is trading below  5,9 SMAs.

• Immediate resistance is located at 1.9587( 38.2% fib), any close above will push the pair towards 1.9765( Higher BB)

• Support is seen at 1.9273(50% fib) and break below could take the pair towards 1.9043(June 19th low)

Recommendation: Good to sell around 1.9400, with stop loss of 1.9480 and target price of 1.9320