• EUR/NZD retreated from daily high on Monday as Indecision gripped as market seeked fresh factors for further direction.
• Tuesday's data focus is on EU inflation and GDP, U.S. home prices, and consumer confidence. Wednesday brings MBA, ADP, ISM Mfg and JOLTS before Fed Chair Jerome Powell's post meeting presser.
• EUR/NZD traded as high as 1.8204 before retreating slightly to trade at 1.8172.
• A rally towards 1.8250 level is possible should EUR/NZD bulls overcome resistance at 23.6%fib.
• Immediate resistance is located at 1.8204 (23.6%fib ), any close above will push the pair towards 1.8260 (Oct 26th high).
• Strong support is seen at 1.8109 (50% fib) and break below could take the pair towards 1.8045 (Oct 25th).
Recommendation: Good to buy around 1.8170 with stop loss of 1.8000 and target price of 1.8260
