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• EUR/NZD initially dipped on Wednesday but recovered ground as investors digested Eurozone and New Zealand inflation data.
• Eurozone Inflation in the 20 nations sharing the euro currency came at 2.4% last month from 2.6% in February, in line with a preliminary estimate released earlier this month.
• New Zealand's CPI rose to 0.6%, marking an increase, while the annual inflation rate continued its decline, according to the latest data from Stats NZ.
• A rally towards 1.8150 is possible if EUR/NZD bulls overcome resistance at 1.8105 (23.6%fib).
• Immediate resistance is located at 1.8105 (23.6%fib), any close above will push the pair towards 1.8147(Nov 10th high).
• Immediate support is seen at 1.8015 (EMA 5) and break below could take the pair towards 1.7982 (38.2%fib).
Recommendation: Good to buy round 1.8030, with stop loss of 1.7900 and target price of 1.8150
