• EUR/NZD steadied on Tuesday as buying demand continued ahead US inflation data.
• U.S consumer prices data on Wednesday will be keenly watched amid hopes that the Fed's rate hikes are almost at an end.
• A rally towards is possible if EUR/NZD bulls overcome resistance at 1.7840 (23.6%fib).
• Technical signals indicate bullish movementum, as RSI is at 54, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.7840 (23.6%fib), any close above will push the pair towards 1.7913(Higher BB).
• Strong support is seen at 1.7728 (11DMA) and break below could take the pair towards 1.7661 (38.2% fib ).
Recommendation: Good to buy around 1.7760, with stop loss of 1.7650 and target price of 1.7820
