• EUR/NZD steadied around 1.7800 On Wednesday as the euro showed some strength despite mixed business activity data in the Eurozone.
• The European Central Bank (ECB) meets on Thursday and is expected to hold monetary policy steady.
•EUR/NZD has seen a 1.7740 -1.7838 range on Wednesday .It was last trading up 0.02 at 1.7801.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 61 bullish, daily momentum studies 5, 10 and 21 DMAs are trending up.
• Immediate resistance is located at 1.7834(38.2%fib ), any close above will push the pair towards 1.7947(23.6%fib).
• Strong support is seen at 1.7758 (50% fib) and break below could take the pair towards 1.7663 (61.8% fib ).
Recommendation: Good to buy around 1.7800 , with stop loss of 1.7700 and target price of 1.7900
