FxWirePro :EUR/NZD recovers from early weakness to post some gains, outlook neutral

• EUR/NZD rose higher on Monday as lockdown exit hopes lifted the pair.

• EUR/NZD climbs above 1.7800 and holds near the day's high late US session. The pairs rebound has topped at 1.7869 (9DMA).

• Technical signals are mixed as RSI is turing up, daily momentum studies  5, 9 and 10 DMAs are trending flat. 

•The pair has traded a 150 pip range thus far Monday, 1.7600-1.7850.Unless there is major news choppy range trading looks set to extend.

• Immediate resistance is located at 1.7869 (9DMA), any close above will push the pair towards 1.7999(38.2 % fib).

• Support is seen at 1.7583 (Lower BB ) and break below could take the pair towards 1.7534 (23.6%  fib).

Recommendation: Be on side-lines