• EUR/ NZD gained on Thursday as investors awaited Eurozone inflation data for clues on ECB’s stand on monetary policy easing.
• Money markets currently see around 35 basis points of interest rate cuts by the U.S. Federal Reserve this year, while the ECB is expected to deliver its first cut next week..
• The pair is holding near today's high and has managed to stay above the crucial level of 50%fib support level .
• Immediate resistance is located at 1.7671 (38.2%fib), any close above will push the pair towards 1.7807 (Higher BB).
• Immediate support is seen at 1.7671 (50%fib) and break below could take the pair towards 1.7615 (61.8%fib).
Recommendation: Good buy around 1.7700, with stop loss of 1.7620 and target price of 1.7780
