• EUR/NZD declined on Thursday a raft of economic data gave a mixed picture of the euro zone.
• Euro zone inflation held steady this month while underlying price growth fell as expected, but remained above the ECB's target
• Separate readings from Germany showed August unemployment rose more than expected, while July retail sales fell unexpectedly.
• Technical signals are bullish as RSI is at 52, daily momentum studies 5, 9 and 10 DMAs are trending up.
• Immediate resistance is located at 1.8269 (5DMA ), any close above will push the pair towards 1.8422 (23.6%fib).
• Strong support is seen at 1.8179 (38.2%fib) and break below could take the pair towards 1.8085 (Aug 10th low).
Recommendation: Be on sidelines
