• EUR/NZD edged higher in on Tuesday as investors awaited key events for further direction.
• Major move is unlikely ahead of US CPI Wednesday and ECB decision on Thursday which will determine EUR/NZD direction.
• EUR/NZD initially dipped but found buyers at 1.8122, rally lifts the pair towards 1.8224.
• Technical signals are mixed as as RSI is bullish at 51, daily momentum studies 5, 9 and 11 DMAs are trending south.
• Immediate resistance is located at 1.8242 (38.2% fib), any close above will push the pair towards 1.8317 (Sep 5th high).
• Strong support is seen at 1.8195 (5 DMA) and break below could take the pair towards 1.8128 (50% fib )
Recommendation: Be on sidelines
