FxWirePro : EUR/NZD gains modestly on mixed economic signals

•EUR/NZD edged higher  on Thursday  as market absorbed Eurozone unemployment rate and German Inflation data.

•Eurozone jobless rate stayed at a record low in June, signaling steady growth despite global trade tensions, Eurostat data showed Thursday.

•The euro zone's unemployment rate stayed at 6.2% in June, unchanged from a revised May figure, while the EU rate held at 5.9%.

• German inflation eased more than expected in July, falling to 1.8% year-on-year, according to preliminary data from the federal statistics office on Thursday—signaling further relief in price pressures across Europe's largest economy.

• The German data comes ahead of the euro zone inflation release on Friday. Inflation in the bloc is expected at 1.9% in July down from 2.0% in the previous month, according to economists.

•   Immediate resistance is located at 1.9508(SMA 20), any close above will push the pair towards 1.9606(38.2% fib).

• Support is seen at 1.9314(50% fib) and break below could take the pair towards 1.9260 (Lower BB )

Recommendation: Good to sell  around 1.9410, with stop loss of 1.9480  and target price of 1.9340