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FxWirePro: EUR/NZD uptrend appears fatigued but continues to hold

• EUR/NZD  steadied around 1.8440 on Friday  but gains were limited  as profit-taking kicked in following the recent rally.

• Global markets remained calm after data showed U.S. prices rose moderately in June, indicating an improving inflation environment that could allow the Fed to cut interest rates in Sep .

• Following the data, expectations increased that the Fed might use its meeting next week to signal potential interest rate cuts starting in September.

• Immediate resistance is located at 1.8489 (23.6%fib), any close above will push the pair towards 1.8562(Higher BB).

• Immediate support is seen at 1.8316 (38.2% fib) and break below could take the pair towards 1.8185 (50% fib).

Recommendation: Good to buy on dips around 1.8830, with stop loss of 1.8740 and target price of 1.8900
 

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