FxWirePro: EUR/NZD tight ranges prevail as market waits for fresh catalyst

•  EUR/NZD   saw muted moves on Monday as holiday-driven low volumes kept price action limited.

• A busy week lies ahead for the Eurozone, with several high-impact data releases on the agenda. Key figures include Germany’s GfK Consumer Confidence, EU employment statistics, and retail sales data. 

• In addition, inflation reports from Germany, France, Italy, Spain, and the broader Eurozone will provide fresh insights into the region’s price dynamics and monetary outlook.

• The U.S. economic calendar this week is loaded with key events, including April Durable Goods Orders, the FOMC meeting minutes, the second estimate of Q1 2025 GDP, and the release of the Core PCE Price Index — the Federal Reserve’s preferred gauge of inflation.

•  Immediate resistance is located at 1.9171(50%fib), any close above will push the pair towards 1.9301(April 21st high)

• Strong support is seen at 1.8920(61.8%fib) and break below could take the pair towards 1.8825(Lower BB).

Recommendation: Good to buy   around 1.8900, with stop loss of 1.8820  and target price of 1.8980.