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FxWirePro: EUR/NZD runs out of steam but maintains bullish outlook

• EUR/NZD eased   on Thursday after the European Central Bank kept its interest rates steady as expected.

• The European Central Bank (ECB) left interest rates unchanged at 4%, snapping an unprecedented streak of 10 consecutive hikes, and maintained its guidance .

• The euro   erased early gains against the kiwi dollar , the pair was last down  at 0.02% at  1.8141.

• From a technical viewpoint, RSI  is strongly bullish at 60, daily momentum studies, 5, 10 and 11 daily  MAs are pointing higher.

• Immediate resistance is located at 1.8256(23.6%fib), any close above will push the pair towards 1.8320 (Sep 5th high

• Immediate support is seen at 1.8109(38.2%fib) and break below could take the pair towards 1.8065(11DMA).

Recommendation: Good to buy  around 1.8130, with stop loss of 1.8050  and target price of 1.8200

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