• EUR/NZD steadied on Wednesday after data showed Euro zone business activity expanded in August.
• Business activity in the Euro zone received a temporary boost from France hosting the Olympic Games last month.
• HCOB's composite Purchasing Managers' Index for the Eurozone, compiled by S&P Global and considered a strong indicator of overall economic health, surged to 51.0 in August, up from 50.2 in July.
• Immediate resistance is located at 1.7951(38.2%fib), any close above will push the pair towards 1.8026(Aug 26th high)
• Support is seen at 1.7825 (50%fib) and break below could take the pair towards 1.7700 (61.8%fib)
Recommendation: Good to buy around 1.7980, with stop loss of 1.7920 and target price of 1.8050
