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FxWirePro: EUR/NZD strengthens as kiwi slips amid geopolitical fears

• EUR/NZD  rose higher on Thursday as subdued risk appetite, driven by escalating Middle East tensions, weighed on the risk-sensitive kiwi dollar.

• Fears of a broader military escalation in the Middle East deepened as Iran and Israel engaged in another round of retaliatory airstrikes, amplifying instability in an already volatile region. 

• The renewed hostilities have heightened global concerns over the potential for wider regional involvement and disruption to energy markets and trade routes.

• The euro benefited  , while risk-sensitive currencies like the Australian and New Zealand dollars were pressured.

• Immediate resistance is located at 1.93039(Higher BB), any close above will push the pair towards 1.9430(38.2% fib).

• Immediate support is seen at 1.9137(50% fib) and break below could take the pair towards 1.9028(Daily low).

Recommendation: Good to buy on dips around 1.9170, with stop loss of 1.9060  and target price of 1.9260
 

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