• 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


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