• EUR/NZD strengthened on Tuesday as the kiwi dollar was pressured by lower commodity prices and soured risk sentiment.
• Copper prices fell to two-week lows on Tuesday, driven by concerns over weakening demand from top consumer, China.
• Oil prices dipped on Tuesday, pressured by demand concerns, as traders looked ahead to the upcoming Federal Reserve meeting.
• From a technical viewpoint, RSI is bullish at 62, daily momentum studies, 5, 10 and 11 daily MAs are pointing up .
• Immediate resistance is located at 1.8251(23.6%fib), any close above will push the pair towards 1.8270 (Higher BB).
• Immediate support is seen at 1.8169 (38.2%fib) and break below could take the pair towards 1.8109(50%fib).
Recommendation: Good to buy around 1.8200, with stop loss of 1.8120 and target price of 1.8280
