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FxWirePro: EUR/NZD runs out of steam but maintains bullish outlook

• EUR/NZD retreated from daily high on Monday as Indecision gripped as market seeked fresh factors for further direction.

• Tuesday's data focus is on EU inflation and GDP,   U.S.  home prices, and consumer confidence. Wednesday brings MBA, ADP, ISM Mfg and JOLTS before Fed Chair Jerome Powell's post meeting presser.

• EUR/NZD traded as high as 1.8204 before retreating slightly to trade at 1.8172.

• A rally towards 1.8250 level is possible should EUR/NZD bulls overcome resistance at 23.6%fib. 

• Immediate resistance is located at 1.8204 (23.6%fib ), any close above will push the pair towards 1.8260 (Oct 26th high).
 
• Strong support is seen at 1.8109 (50% fib) and break below could take the pair towards 1.8045 (Oct 25th).

Recommendation: Good to buy  around 1.8170 with stop loss of 1.8000 and target price of 1.8260
 

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