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• EUR/NZD gave up early gains on Monday as investors welcomed the U.S.-China agreement to temporarily cut tariffs, boosting risk sentiment and raising hopes of a de-escalation in the global trade war.
• Investors shifted toward riskier assets, moving away from defensive plays, though uncertainty remained over the final outcome of tariff levels.
• EUR/NZD hit daily high at 1.9012, before retreating slightly trade at 1.8937 by 20:55 GMT.
• Immediate resistance is located at 1.9203 (38.2%fib), any close above will push the pair towards 1.9324(Higher BB).
• Strong support is seen 1.8873(50%fib) and break below could take the pair towards 1.8813 (Lower BB)
Recommendation: Be on sideliness
