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• EUR/NZD dipped on Monday as investors looked ahead of a week packed with economic data.
• Investors are also focused on euro zone employment data and U.S. consumer price figures due later this week for clues on the outlook for interest rates.
• Meanwhile, Euro zone investor sentiment turned positive in August, marking its fourth consecutive monthly improvement as assessments of current economic conditions strengthened sharply..
• The euro zone’s Sentix index rose to 0.9 in August from -3.1 in July, beating the Reuters forecast of -0.5.
• Immediate resistance is located at 1.9750(SMA 20), any close above will push the pair towards 1.9805(50%fib)
• Support is seen at 1.9588(38.2%fib)and break below could take the pair towards 1.9475(Lower BB)
Recommendation: Good to sell around 1.9620, with stop loss of 1.9700 and target price of 1.9540
