• 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
