• 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
