• EUR/NZD is struggled to make bullish headway on Tuesday as investors digested a slew of economic data that painted a mixed picture of the region's economic health.
• Investors assessed a range of economic data, presenting a mixed view of the region's economic health.
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• The latest data showed an uptick in euro zone inflation for December — a development that, while expected, added a layer of intrigue to the economic narrative.
• French consumer prices rose less than anticipated in December, Germany, Europe's economic powerhouse, reported a bigger-than-expected rise in annual inflation for December.
• Technical signals are bullish as RSI is at 55, momentum studies, 11, 14 & 21 DMAs are trending up.
• Immediate resistance is located at 1.8510 ( 23.6%fib), any close above will push the pair towards 1.8590(Higher BB)
• Strong support is seen at 1.8312(38.2 %fib ) and break below could take the pair towards 1.8186(50 %fib).
Recommendation: Good to buy on dips around 1.8350 with stop loss of 1.8300 and target price of 1.8500
