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FxWirePro:EUR/NZD beginning to trend higher but hurdles ahead

• EUR/NZD steadied on Monday as gains driven by optimism around China's stimulus measures to revitalise its economy .

• A holiday in the United States kept a lid on activity ahead of key readings on   Chinese trade and inflation later this week.

• EUR/ NZD   is steading near 23.6% fib resistence. A close above break above  will opens up 1.8300 level.

• Technical signals show the pair could gain more ground as RSI is bullish at 51, and 21, 30 DMA’s are trending north.

• Immediate resistance is located at 1.8219(23.6% fib ), any close above will push the pair towards 1.8300 (24th Aug high).

• Immediate support is seen at 1.8142 (5DMA) and break below could take the pair towards 1.8082 (38.2% fib).

Recommendation: Good to buy round 1.8160, with stop loss of 1.8080 and target price of 1.8260

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