• EUR/NZD stayed subdued on Thursday as investors stayed cautious amid Middle East developments..
• Reports of an Israel–Hezbollah ceasefire briefly eased geopolitical tensions in the Middle East. However, optimism around a broader regional peace deal has faded.
• Geopolitical developments in the Middle East are expected to remain a key driver of short-term sentiment, but market focus is likely to revert primarily to the U.S. jobs data once the NFP release.
• U.S. non-farm payrolls (NFP) report due on Friday is expected to provide important signals for Federal Reserve policy expectations in the second half of 2026.
• Immediate resistance is located at 1.9801 (38.2% fib), any close above will push the pair towards 1.9936 (May 26th high).
• Immediate support is seen at 1.9754 (SMA20) and break below could take the pair towards 1.7606(June 3rd low)
Recommendation: Good to sell around 1.7800, with stop loss of 1.7920 and target price of 1.7740
