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FxWirePro:EUR/NZD maintains bullish bias with focus on 1.8150 level

• 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

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