• EUR/NZD initially gained but gave ground as investors assessed the latest U.S. inflation data.
• The Labor Department said the consumer priceindex rose 0.2% for the fourth straight month, in line with expectations of economists..
• The pair is holding near today's high, but repeated failures to push above 1.1900 is discouraging longs.
• Immediate resistance is located at 17987(50%fib), any close above will push the pair towards 1.8119(61.8%fib).
• Strong support is seen at 1.7840 (38.2% fib) and break below could take the pair towards 1.7802 ( 23.6%fib).
Recommendation: Good to sell around 1.7970, with stop loss of 1.850 and target price of 1.7900
