• EUR/NZD advanced on Tuesday as euro benefited from German ZEW upside surprise.
• German investor expectations rose unexpectedly in September, the ZEW institute said on Tuesday, signaling cautious optimism despite the economy’s weak performance relative to other G7 nations.
•The ZEW economic sentiment index, which reflects mid-term expectations, climbed to 37.3 in September from 34.7 in August, surpassing analysts’ forecasts of 26.3.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 55 bullish, daily momentum studies 5, 10 and 21 DMAs are trending up.
• Immediate resistance is located at 1.9823(SMA20), any close above will push the pair towards 2.0015(23.6%fib).
• Strong support is seen at 1.9650 (38.2% fib) and break below could take the pair towards 1.9546(Lower BB )
Recommendation: Good to buy around 1.9800, with stop loss of 1.9720 and target price of 1.9900
