FxWirePro: EUR/NZD steadies around 1.7915 , retains bid tone

• EUR/NZD steadied around 1.7915  on   as investors hedged their positions amid rising geopolitical tensions and uncertainty over the U.S. presidential election.

• On the data front,German producer prices fell more than expected in September, declining 1.4% year on year, due mainly to significantly lower energy prices, the federal statistics office said on Monday.

•The main reason for the dip was lower energy prices, which were 6.6% lower in September compared with the same month last year. Mineral oil products in particular were down 14.4%

 • The technical outlook remains bullish and points to eventual bigger gains, Fourteen-day momentum is positive, reinforcing the scope for a bigger gains   

• Immediate resistance is located at 1.7924(38.2%fib), any close above will push the pair towards 1.8016(Oct 16th high)

• Support is seen at 1.7842(50%fib) and break below could take the pair towards 1.7806(SMA 21)

Recommendation: Good to buy around 1.7900 with stop loss of 1.7860 and target price of 1.7960