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• EUR/NZD traded in tight range on Monday as investors cautious ahead of central bank meetings
• Several major central banks are scheduled to deliver policy decisions this week, with the Bank of England, the Bank of Japan, and the Bank of Canada all set to announce their latest stances.
• The decisions come alongside the Federal Reserve’s highly anticipated meeting, placing global monetary policy firmly in focus.
• Investors will be closely watching whether these central banks follow the Fed’s easing path or maintain a cautious stance, as divergent policy signals could drive volatility across currency markets.
• Immediate resistance is located at 1.9831( SMA20), any close above will push the pair towards 2.0000( Psychological level)
• Support is seen at 1.9629(38.2% fib) and break below could take the pair towards 1.9587(Lower BB).
Recommendation: Good to sell around 1.9730, with stop loss of 1.9800 and target price of 1.9650
