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FxWirePro:EUR/NZD steadies above 1.8000 after early weakness, outlook bullish

• EUR/NZD initially fell on  Monday but recovered slightly  as Investors   focus turned to   upcoming U.S. and Chinese inflation data.

• EUR/NZD has seen a 1.8066 -1.7985 range on Monday.Today's bounce away from  support 1.7983(5DMA) may be beginning of bull sign

• Technical signals show the pair could gain more ground in the short-term as RSI is at 58 bullish, daily momentum studies  5, 9 and 11 DMAs are trending  up.

• Immediate resistance is located at 1.8088(23.6%fib), any close above will push the pair towards 1.8114(Higher BB).

• Strong support is seen at 1.7983(5DMA) and break below could take the pair towards 1.7939  (38.2% fib )

Recommendation: Good to buy around 1.8000  with stop loss of 1.7900  and target price of 1.8100  

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