• EUR/NZD eased on Tuesday as easing concerns over the impact of U.S. sanctions on Iran a supported risk-sensitive currencies.
• U.S. Treasury Secretary Scott Bessent’s latest measures aimed at tightening economic pressure on Iran had a limited impact on markets, as Washington stopped short of imposing sanctions on Tehran’s trading partners.
• Iran vowed to retaliate against the expanded U.S. sanctions, while expressing confidence that its major trading partners would resist Washington’s efforts to intensify economic pressure on Tehran...
• Investors also weighed signs of a recovery in Germany’s economy, with gross domestic product expanding more than expected in the second quarter and business sentiment reaching its highest level in a year in August.
• Federal Reserve Chair Kevin Warsh's Jackson Hole debut later this week is in focus for clues on rising bond yields and central bank independence.
• Immediate resistance is located at 1.9621(SMA 20), any close above will push the pair towards 1.9740 (38.2%fib).
• Immediate support is seen at 1.9509(Lower BB) and break below could take the pair towards 1.9252(23.6% fib).
Recommendation: Good to sell around 1.9620 with stop loss of 1.9850 and target price of 1.9550
