• EUR/NZD declined on Tuesday as investors refrained from making big bets ahead of the European Central Bank's policy meeting later this week
• The European Central Bank (ECB) meets on Thursday and is expected to hold monetary policy steady.
• EUR/NZD has seen a 1.7937 -1.7752 range on Tuesday.It was last trading down 0.07 at 1.7786.
• A close above 38.2%fib, will likely trigger a new bullish phase with potential for 1.7900 level.
• Immediate resistance is located at 1.7838 (38.2%fib), any close above will push the pair towards 1.7932 (23.6%fib).
• Immediate support is seen at 1.7757 (50%fib) and break below could take the pair towards 1.7671 (61.8%fib).
Recommendation: Good to buy 1.7760, with stop loss of 1.7650 and target price of 1.7850
