• EUR/NZD edged higher as it attracted bids after data showed German investor morale rose in January.
• German investor morale jumped sharply in January to its highest level since August 2021, the ZEW institute said on Tuesday, as expectations for the economy improved.
• The index rose to 59.6 points in January. Analysts polled by Reuters had expected the January reading to rise to 50.0 points, from last month's 45.8.
• Meanwhile, the ZEW’s assessment of current conditions improved, rising to -72.7 from -81.0 in the previous month.
• Immediate resistance is located at 2.0229(SMA20), any close above will push the pair towards 2.0312(38.2%fib).
• Immediate support is seen at 2.0079(50%fib) and break below could take the pair towards 2.0023(38.2%fib).
Recommendation: Good to sell around 2.0215 with stop loss of 2.0300 and target price of 2.0150
