• EUR/NZD after initially falling on Friday the pair recovered some ground as the pair was supported by hotter Euro Zone inflation data.
•Consumer prices in the 20 countries that share the euro rose by 2.6% year on year in May, inching away from the ECB's 2% target after increases of 2.4% in the previous two months
• In an up-and-down session, the pair hit low at 1.7648 in early trading then recovered towards 1.7679.
• Immediate resistance is located at 1.7729 (23.6%fib), any close above will push the pair towards 1.7768(May 24th high).
• Strong support is seen at 1.7680(38.2%fib) and break below could take the pair towards 1.7637 (50%fib )
Recommendation: Good to buy around 1.7670 with stop loss of 1.7550 and target price of 1.7750
