• EUR/NZD eased towards 1.7830 as higher than expected New Zealand's consumer inflation data boosted kiwi dollar.
• NZ CPI rose 6.0% year-on-year in the second quarter, slower than the 6.7% increase in the first quarter
• EUR/NZD remains bullish , a daily close above will 1.7929 (23.6% fib) will accelerate gains towards 1.8000 .
• Technical signals show the pair could gain more ground in the short-term as RSI is at 57 bullish, daily momentum studies 5, 10 and 21 DMAs are trending up.
• Immediate resistance is located at 1.7929 (23.6% fib), any close above will push the pair towards 1.8000 (Higher BB).
• Strong support is seen at 1.7780 (38.2% fib) and break below could take the pair towards 1.7734(5DMA )
Recommendation: Good to buy around 1.7830, with stop loss of 1.7750 and target price of 1.7880
