• EUR/NZD trickled lower on Tuesday after U.S. CPI came in below consensus forecasts, pulling forward Fed rate cut expectations and tempering hawkish Fed expectations.
• The pair failed to breach resistance at 1.8289(23.6%fib) and dipped towards 1.8150 level .
• EUR/NZD bulls need to overcome 1.8203, in order to keep the bias on gains.
• Technical signals show the pair could gain more ground in the short-term as RSI is bullish at 56, daily momentum studies 5 and 9 DMAs are trending up.
• Immediate resistance is located at 1.8203(Nov 13th high), any close above will push the pair towards 1.8289(23.6%fib).
• Immediate support is seen at 1.8139(5DMA) and break below could take the pair towards 1.8051 (61.8%fib).
Recommendation: Good to buy around 1.8130, with stop loss of 1.8050 and target price of 1.8200
