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FxWirePro: EUR/ NZD gently bid,a close above a key level needed to tighten grip

• EUR/ NZD steadied around 1.8030  on Wednesday after data showed  German business morale improved more than expected in April .

• The Ifo institute said its business climate index rose to 89.4 compared with a reading of 88.8 forecast   in a   poll. In March, the reading was revised slightly to 87.9.

• A daily close above 1.8068 ( 38.2% fib)will further improve the technical outlook, and open the possibility of a rally towards 1.8100 level.

• Technical signals   bullish as RSI is at 56 bullish, simple moving averages  5, 9 and 11   are trending  up. 

• Immediate resistance is located at 1.8068 ( 38.2% fib), any close above will push the pair towards 1.8139 (April 19th hiigh).

• Immediate support is seen at 1.8017(9SMA) and break below could take the pair towards 1.7966 (50% fib).

 Recommendation: Good to buy around 1.8030, with stop loss of 1.7900 and target price of 1.8100
 

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