FxWirePro: EUR/NZD stuck in a range but outlook is bullish

• EUR/NZD traded in narrow range on Thursday   as Middle East tensions and rising inflation concerns kept investors cautious

• Investors will now turn to the US September jobs report, which is likely to be the key near-term catalyst for EUR/NZD

• Money markets on Thursday pared back expectations for rate hikes from the European Central Bank to the point where they were no longer fully pricing in another rise this year.

• Oil prices continued to advance, with U.S. crude up 1.52% at $91.79 a barrel and Brent gaining 2.81% to $100.78 a barrel

• Stalled US-Iran peace talks aimed at ending the seven-month Middle East war have kept crude prices elevated.

• Immediate resistance is located at 2.0203(Higher BB), any close above will push the pair towards 2.0261(23.6%fib).

• Immediate support is seen at 2.0045(38.2%fib) and break below could take the pair towards 2.0045 (Psychological level).

Recommendation: Good to buy around 2.0050 with stop loss of 1.9950  and target price of 2.0100