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FxWirePro: EUR/NZD consolidating around 1.7765,bias is bullish

• EUR/NZD  steadied  on Tuesday  as buying demand continued ahead US inflation data.

• U.S consumer prices data on Wednesday will be keenly watched amid hopes that the Fed's rate hikes are almost at an end.

• A rally towards is   possible if  EUR/NZD bulls overcome resistance at 1.7840 (23.6%fib).

• Technical signals indicate bullish movementum, as RSI is at 54, daily momentum studies  5, 9 and 11 DMAs are trending  up.
 
• Immediate resistance is located at 1.7840 (23.6%fib), any close above will push the pair towards 1.7913(Higher BB).

• Strong support is seen at 1.7728 (11DMA) and break below could take the pair towards 1.7661 (38.2% fib ).

Recommendation: Good to buy around 1.7760, with stop loss of 1.7650 and target price of 1.7820
 

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