FxWirePro:EUR/NZD dips below lower range, bearish bias increases

•  EUR/ NZD slipped  lower on Wednesday as renewed U.S. strikes on Iran heightened geopolitical tensions

• The U.S. intensified its military campaign with fresh strikes on Iran's coastal defenses and missile sites, while Iran warned it could disrupt regional energy exports.

• The latest escalation in U.S.-Iran hostilities kept oil prices near one-month highs, sustaining concerns over inflation and global energy supplies.

•The Labor Department's PPI report marked a second straight day of softer-than-expected U.S. inflation data, even as Fed Chair Kevin Warsh continued his second day of testimony before the Senate Banking Committee.

• EUR/NZD has seen range 1.9685-1.9582 the pair is likely to be gain towards 1.9550 level.

• Immediate resistance is located at 1.9690 (38.2% fib), any close above will push the pair towards 1.9846(50% fib).

• Immediate support is seen at 1.9543 (Lower BB) and break below could take the pair towards 1.9469 (23.6% fib).

Recommendation: Good to sell  round 1.9610, with stop loss of 1.9700 and target price of 1.9550