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• EUR/NZD was little changed on Monday as most European markets remained closed for Easter Monday.
• Eurozone inflation data for March is expected to be released on Wednesday, with a forecast indicating a slight decrease to 2.5% from the previous figure of 2.6%.
• Pair traded in 1.8005/1.8072 range and was last trading at 1.8039 in the US afternoon session.
• Technical signals are bullish as RSI is at 67, daily momentum studies 5,9 and 10 DMAs are trending up.
• Immediate resistance is located at 1.8068(23.6%fib ), any close above will push the pair towards 1.8119 (Higher BB)
• Strong support is seen at 1.8000(Psychological level ) and break below could take the pair towards 1.7926 (38.2%fib).
Recommendation: Good to buy around 1.8010, with stop loss of 1.7900 and target price of 1.8100
