• EUR/NZD initially gained on Monday but gave ground as investors looked ahead to the Federal Reserve's Jackson Hole symposium .
• Fed Chair Jerome Powell is set to speak on Friday. His comments will set the direction for markets.
• Pair traded in 1.8460/1.8339 range and was last trading at 1.8384 into the US afternoon.
• Technical signals are bullish as RSI is at 69, daily momentum studies 5,9 and 10 DMAs are trending up.
• Immediate resistance is located at 1.8403( 23.6%fib), any close above will push the pair towards 1.8450 (Higher BB)
• Strong support is seen at 1.8317 (5DMA ) and break below could take the pair towards 1.8266 (38.2%fib).
Recommendation: Good to buy around 1.8360, with stop loss of 1.8200 and target price of 1.8430.
