• EUR/NZD rose towards level 1.7900 as kiwi dollar was hit by risk-off sentiment and lower commodities prices.
•Brent crude prices dived 5% overnight to their lowest levels in nine months after signs of a deal to resolve a dispute that has halted Libyan crude production.
•Dalian iron ore futures and copper prices dropped on Tuesday over fears of weakening demand from top consumer China
• The pair is currently approaching resistance at 38.2%fib. A break and daily close above will accelerate further gains towards 1.8000 level..
• Immediate resistance is located at 1.7912(38.2%fib), any close above will push the pair towards 1.8000(Psychological level).
• Strong support is seen at 1.7757(Sep 3rd low) and break below could take the pair towards 1.7708(23.6% fib )
Recommendation: Good to buy around 1.7890 with stop loss of 1.7800 and target price of 1.8000
