• EUR/NZD initially gained on Tuesday, but early gains fizzled out as traders braced for a holiday-shortened week.
• The pair's movements were comparatively restricted due to the low level of market activity and the smaller number of participants.
• On Tuesday, the EUR/NZD traded within a session range of 1.8456 to 1.8389
• Technical signals are bullish as RSI is at 69, momentum studies, 11, 14 & 21 DMAs are trending up.
• Immediate resistance is located at 1.8485 ( 23.6%fib), any close above will push the pair towards 1.8539 (Higher BB)
• Strong support is seen at 1.8356 (38.2 %fib ) and break below could take the pair towards 1.8256(50 %fib).
Recommendation: Good to buy on dips around 1.8420 with stop loss of 1.8300 and target price of 1.8515.
