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FxWirePro: EUR/NZD caught in narrow range, bias is bullish

• EUR/NZD initially gained  on  Monday but gave ground as investors  looked ahead to the Federal Reserve's Jackson Hole symposium  .

• Fed Chair Jerome Powell is set to speak on Friday. His comments will  set the direction for markets. 

• Pair traded in   1.8460/1.8339 range and was last trading at 1.8384 into the US afternoon.

• Technical signals are bullish as RSI is at 69, daily momentum studies  5,9 and 10 DMAs are trending up.

•  Immediate resistance is located at 1.8403( 23.6%fib), any close above will push the pair towards 1.8450 (Higher BB)

• Strong  support is seen at 1.8317 (5DMA ) and break below could take the pair towards 1.8266 (38.2%fib).

Recommendation: Good to buy  around 1.8360, with stop loss of 1.8200 and target price of 1.8430.

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