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FxWirePro: EUR/NZD bulls take advantage of weak China data, room for further gains

• EUR/NZD   strengthened on Tuesday as worse than expected China's trade data weighed on euro.

• EUR/NZD gains near 23.6%fib,consolidation likely to continue while market seeks fresh factors.

• 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 1.8128(23.6%fib), any close above will push the pair towards 1.8192 (Higher BB).

• Strong support is seen at 1.8030(5DMA) and break below could take the pair towards 1.7986 (38.2% fib )

Recommendation: Good to buy around 1.8040 with stop loss of 1.7900  and target price of 1.8120

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