FxWirePro: EUR/ NZD trends higher, but faces potential pitfalls

• EUR/NZD pair recovered some ground on Thursday  as escalating tensions between the U.S., Israel and Iran heightened worries over energy supply and inflation.

·  The Iran war continues to intensify and spread, with no clear signs of de-escalation, keeping global markets cautious.

·  Oil prices surged on supply disruption fears, with WTI rising 7.2% and Brent gaining 4.2%, reflecting concerns over Middle East energy flows.

• U.S. President Donald Trump said the U.S. Iran operation is ahead of schedule though declined to give a timeline, adding that he wants to be involved in choosing Iran's next leader..

• Israel's ambassador said it will soon become much harder for Iran to disrupt shipping in the Strait of Hormuz and noted that Tehran’s missile fire is already declining.

• Immediate resistance is located at 1.9787(38.2%fib), any close above will push the pair towards 1.9818(Higher BB).

• Immediate support is seen at 1.9569(Lower BB) and break below could take the pair towards 1.952(Lower BB).

 Recommendation: Good to sell around 1.9700 with stop loss of 1.9780 and target price of 1.9650