• EUR/NZD strengthened on Monday as a retreat in metal prices weighed on export-heavy currencies like kiwi dollar.
• Precious metals retreated sharply on Monday, with silver and platinum falling from record highs hit earlier in the session, as investors booked profits after recent rallies.
•Looking ahead, market participants await Tuesday's release of U.S. Federal Reserve meeting minutes during an otherwise quiet data week.
• Technical signals show the pair could gain more ground in the short-term as RSI is bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 2.0300 (38.2%fib), any close above will push the pair towards 2.0458(Higher BB).
• Strong support is seen at 2.0234 (9DMA) and break below could take the pair towards 2.0010(50%fib )
Recommendation: Good to buy around 2.0270 with stop loss of 2.0200 and target price of 2.0350
