FxWirePro: EUR/NZD steadies around 1.9360,retains bid tone

• EUR/NZD  steadied around  1.9360 on Tuesday as  investors assessed progress in global trade negotiations and developments surrounding the U.S. tax bill..

• As the July 9 deadline nears, fears over U.S. tariffs and their broader implications for global growth have re-emerged.

• Investors also kept an eye on Senate Republicans this week as they pushed forward President Trump’s massive tax and spending package, projected to add $3.3 trillion to U.S. debt..

• On the data front,Euro zone manufacturing showed signs of recovery in June, with new orders no longer declining for the first time in over three years. The HCOB Manufacturing PMI rose slightly to 49.5 from 49.4 in May—its highest since August 2022.

•  Technicals are favouring bullish  sentiment as RSI is at 44 and the pair is trading below 11, 14 & 21-DMA’s. 

• Immediate resistance is located at 1.9496(38.2% fib), any close above will push the pair towards 1.9588(Higher BB).

• Immediate support is seen at 1.9211(50% fib) and break below could take the pair towards 1.9178(SMA 20).

Recommendation: Good to buy on dips around 1.9350 with stop loss of 1.9250 and target price of 1.9450