• EUR/NZD strengthened on Monday as investors awaited signs of progress on a trade accord between the United States and the European Union.
• Trade negotiations remained in focus as EU diplomats revealed the bloc is considering broad 'anti-coercion' measures, potentially targeting U.S. services or restricting access to public tenders if a deal fails to materialize.
• U.S. President Donald Trump has threatened to impose 30% tariffs on European imports if a trade agreement is not reached by the August 1 deadline..
• Markets are also looking ahead to the European Central Bank’s policy decision later this week, with traders widely expecting no change in interest rates.
• Immediate resistance is located at 1.9269(23.6%fib), any close above will push the pair towards 1.9720 (Higher BB)
• Strong support is seen at 1.9471 (38.2%fib) and break below could take the pair towards 1.9340(50%fib).
Recommendation: Good to buy around 1.9570, with stop loss of 1.9450 and target price of 1.9670
