FxWirePro: EUR/NZD trades flat awaits fresh catalyst

• EUR/NZD  traded in tight range on Wednesday  as investors monitored U.S. trade negotiations ahead of President Donald Trump's July tariff deadline.

• Investors stayed cautious after Trump ruled out extending the trade deal deadline. Talks with Japan remained uncertain, while a deal was expected with India and finalized with Vietnam.

• Investors also focused on Trump’s $3.3 trillion tax and spending bill, which aims to cut taxes and social programs while significantly increasing the national debt as it moves through Congress..

• House Republicans scheduled a procedural vote on the bill, which could indicate whether they have enough support to pass it through Congress.

•  Technicals are favouring bullish  sentiment as RSI is at 61 and the pair is trading above 5, 11 &14 DMA’s. 

• Immediate resistance is located at 1.9447(38.2% fib), any close above will push the pair towards 1.9598(Higher BB).

• Immediate support is seen at 1.9209(20 SMA) and break below could take the pair towards 1.9147(50% fib).

Recommendation: Good to buy on dips around 1.9350 with stop loss of 1.9250 and target price of 1.9450