• EUR /NZD strengthened on Monday as lower commodities prices weighed commodity linked kiwi dollar
• Brent crude price plunged by over 5% on Monday after Israel's limited retaliatory strike against Iran did not disrupt energy supplies.
• Copper fell 0.21% as slumping Chinese industrial profits pointed to poor demand prospects..
• Technical signals show the pair could gain more ground in the short-term as RSI is at 55 bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.8119(23.6% fib), any close above will push the pair towards 1.8185(Higher BB).
• Immediate support is seen at 1.8005 (38.2% fib) and break below could take the pair towards 1.7901 (50% fib).
Recommendation: Good to buy on dips around 1.8070, with stop loss of 1.8010 and target price of 1.8140
