• EUR/ NZD edged higher on Friday as investors monitored the escalating Iran war and digested weak U.S. labor data.
• Middle East tensions remained high as U.S. President Donald Trump demanded Iran’s “unconditional surrender,” while Israel continued strikes on Tehran and launched attacks on Beirut.
• Oil prices surged as shipping and energy exports through the Strait of Hormuz were halted, raising fears of tighter supplies and higher inflation.
• Meanwhile, data showed the U.S. economy unexpectedly lost jobs in February, signalling potential weakness in the labor market and clouding the outlook for interest rates..
• Immediate resistance is located at 1.9724(Daily high), any close above will push the pair towards 1.9822(38.2%fib).
• Immediate support is seen at 1.9567(23.6%fib) and break below could take the pair towards 1.9536(Lower BB).
Recommendation: Good to sell around 1.9700 with stop loss of 1.9750 and target price of 1.9630
