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FxWirePro: EUR/NZD caught in narrow range, bias neutral

• EUR/NZD  retreated  after hitting daily high 1.6391 on Monday as investors looked for cues on ECB and U.S. Federal Reserve's interest rate hike trajectory.

• Pair traded in a quiet 1.1677/1.6279  range and was last trading at 1.6244 in late  US trading.  .  

• Technical signals are bullish as RSI is at 61, daily momentum studies  10,11 and 14 DMAs are trending up.

•  Immediate resistance is located at 1.7764 ( 23.6%fib), any close above will push the pair towards 1.7785(Higher BB)

• Support is seen at 1.7647 (5DMA ) and break below could take the pair towards 1.7555 (38.2%fib).

Recommendation: Good to sell   around 1.7650, with stop loss of 1.7450 and target price of 1.7760

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