• EUR/NZD dipped on Monday as investors braced for a week full of important economic data .
• Several key economic releases are due later this week, with traders closely monitoring them for indications that could shape expectations of European Central Bank (ECB) policy moves.
• Traders will be closely watching several key data releases later in the week, as they may influence expectations for European Central Bank monetary policy.
• On the economic front, euro zone industrial production rose 1.2% year-on-year in December, down from a 2.5% increase the prior month, at a time when investors are anticipating that fiscal stimulus measures are reviving the sector.
• Looking ahead, data on business activity in Germany and France will be released, while earlier in the week, markets will focus on Germany’s economic sentiment.
• Immediate resistance is located at 1.9736 (SMA20), any close above will push the pair towards 1.9791(38.2%fib).
• Strong support is seen at 1.9545 (23.6%fib) and break below could take the pair towards 1.9496(Lower BB).
Recommendation: Good to sell around 1.9660, with stop loss of 1.9730 and target price of 1.9580
