• EUR/NZD strengthened on Tuesday as the kiwi dollar lost ground against the euro amidst heightened risk aversion sparked by geopolitical tensions.
• Tensions in the Middle East escalated once again as Israel pledged to retaliate against Iran's weekend attack, disregarding international appeals for restraint.
• A close above 1.8067( 38.2%fib), will likely trigger a new bullish phase with potential for 1.8150. .
• Technical signals are bullish as RSI is at 58 , daily momentum studies 5,9 and 10 DMAs are trending up.
• Immediate resistance is located at 1.8067( 38.2%fib), any close above will push the pair towards 1.8103(Daily high)
• Strong support is seen at 1.7973 (50%fib ) and break below could take the pair towards 1.7961 (SMA 5).
Recommendation: Good to buy around 1.8040 , with stop loss of 1.7900 and target price of 1.8150
