FxWirePro:EUR/NZD downtrend Intact, eyes 1.9500 level

• EUR/NZD initially gained but gave up ground as investors assessed  Euro zone factory output data and the economic fallout from the U.S.-Iran conflict

• U.S. President Donald Trump said Washington would refrain from launching fresh strikes on Iran provided a swift agreement is reached to curb Tehran's nuclear programme and secure the reopening of the Strait of Hormuz.

• Saudi Crown Prince Mohammed bin Salman urged the importance of dialogue to reduce tensions in the Middle East during a phone call with President Donald Trump, Saudi state media reported.

•The S&P Global Eurozone Manufacturing PMI rose to 51.9 in July from 51.4 in June, marking its highest level since April, although it came in just below the preliminary estimate of 52.0.

• Separately, ​an ECB Economic Bulletin article published on Monday said euro zone ​household consumption fell sharply in the early weeks of the Iran war as confidence tumbled, underscoring the economic risks of any renewed escalation ​in the region..

• Immediate resistance is located at 1.9650 (38.2% fib), any close above will push the pair towards 1.9685 (SMA 20).

• Immediate support is seen at 1.9450(23.6% fib) and break below could take the pair towards 1.9379(Lower BB).

Recommendation: Good to sell  round 1.9620, with stop loss of 1.9680 and target price of 1.9500