• EUR/NZD eased slightly on Wednesday but remained near recent high as investors focus now shifted to the European Central Bank's upcoming rate decision.
• ECB will likely keep policy rates on hold and maintain current guidance, providing no signal for a rate cut in September.
• On the data front, eurozone's annual consumer inflation rate eased to 2.5% in June, down from 2.6% in May.
• Technical highlight upside risks for EUR/NZD , with momentum studies, 5, 10 and 21 DMAs tracking north.
• Immediate resistance is located at 1.8046(23.6%fb), any close above will push the pair towards 1.8100 (Higher BB).
• Immediate support is seen at 1.7928 (38.2%fb)and break below could take the pair towards 1.7833 (50%fb).
Recommendation: Good to buy on dips around 1.7970, with stop loss of 1.7900 and target price of 1.8060
