FxWirePro: EUR/NZD eases after hot US CPI data

• EUR/NZD dipped on Friday as investors digested hotter-than-expected U.S. CPI data and assessed the economic impact of the U.S.-Israeli conflict with Iran.

•Escalating U.S.-Iran attacks across the Gulf since late August have sent oil prices above $100 a barrel again, rekindling inflation worries in the fuel-dependent euro zone and complicating the ECB's battle against rising prices.

• ECB President Christine Lagarde said the central bank will remain data-dependent, while chief economist Philip Lane warned that higher energy prices could weigh on consumption this autumn.

•The European Central Bank raised interest rates and cautioned that inflation may stay higher for longer amid rising energy prices linked to the prolonged Middle East conflict.

• Immediate resistance is located at 2.0020(50%fib), any close above will push the pair towards 2.0066(Higher BB).

• Immediate support is seen at 1.9894(Daily low) and break below could take the pair towards 1.9790(38.2fib).

Recommendation: Good to sell around 1.9960 with stop loss of 2.0050  and target price of 1.9900