• EUR/NZD strengthened on Tuesday as investors found comfort in upbeat euro zone PMI data.
• Business activity overall in the euro zone expanded at its fastest pace in nearly a year this month as a buoyant recovery in the bloc's dominant service industry more than offset a deeper downturn in manufacturing..
• A close above 38.2%fib resistance , will likely trigger a new bullish phase with potential for 1.8150.
• Technical signals are bullish as RSI is at 55, simple moving averages 5,9 and 10 are trending up.
• Immediate resistance is located at 1.8065( 38.2%fib), any close above will push the pair towards 1.8136 (April 19th high)
• Strong support is seen at 1.8012(9DMA ) and break below could take the pair towards 1.7981 (38.2%fib).
Recommendation: Good to buy around 1.8000, with stop loss of 1.7900 and target price of 1.8100
