• EUR/NZD traded in narrow range on Monday as investors braced for a data-packed week shed more light on the central bank policy.
• All eyes are on the U.S. consumer and producer price data, along with Europe's employment and GDP flash numbers, set to be released over the course of the week.
• The EUR/NZD traded within a 1.8231 to 1.8113 range on Monday. A close below the 50% fib level would strengthen the bearish bias, potentially paving the way for a move toward the 1.8000.
• Immediate resistance is located at 1.8237(38.2%fib), any close above will push the pair towards 1.8394 (23.6%fib).
• Immediate support is seen at 1.8092 (50% fib) and break below could take the pair towards 1.7950(61.8% fib)
Recommendation: Good sell around 1.8180, with stop loss of 1.8260 and target price of 1.8110
