• EUR/NZD steadied around 1.7830 on Tuesday as euro was buoyed by weaker kiwi dollar while, investors awaited ECB policy meeting.
• On the data front, Business activity in the euro zone showed signs of recovery last month as the bloc's dominant services industry expanded for the first time since July.
• HCOB's composite Purchasing Managers' Index (PMI) for the bloc, compiled by S&P Global and seen as a good guide of overall economic health, jumped to 49.2 in February from January's 47.9 A services PMI rose to 50.2 from 48.4, beating the 50.0 flash reading.
• Technical signals show the pair could gain more ground as RSI is at 61 with 5, 10 and 21-day MAs in bullish alignment.
• Immediate resistance is located at 1.7866 (23.6% fib), any close above will push the pair towards 1.7898 (Higher BB ).
• Immediate support is seen at 1.7775 (38.2% fib) and break below could take the pair towards 1.7695 (50% fib).
Recommendation: Good to buy around 1.7820, with stop loss of 1.7670 and target price of 1.7880
