• EUR/NZD steadied on Tuesday as the pairs bullish streak continued as investors anticipate the release of business activity data later this week.
• Market participants are closely monitoring these data points to assess the health of the Eurozone economy and to anticipate the European Central Bank's (ECB) next moves regarding interest rates.
• Bulls have tightened their grip after registering a close above the 38.2% fib ,scope grows for bigger gains towards 1.7900
• Immediate resistance is located at 1.7885 (23.6% fib), any close above will push the pair towards 1.7926 (May 13th high ).
• Immediate support is seen at 1.7782 (38.2% fib) and break below could take the pair towards 1.7714 (50% fib).
Recommendation: Good to buy around 1.7790 with stop loss of 1.7700 and target price of 1.7850
