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• EUR/NZD traded in tight range on Monday as investors awaited a big week for key events and economic data.
• Markets widely anticipate that the Reserve Bank of Australia (RBA) will reduce the cash rate to 3.60% in its upcoming meeting.
• U.S. consumer price data is scheduled for release on Tuesday, followed by producer price data on Thursday.
• U.S. President Donald Trump and Russian President Vladimir Putin are scheduled to meet in Alaska on Friday to discuss potential steps toward ending the ongoing conflict in Ukraine.
• Immediate resistance is located at 1.9658(38.2%fib), any close above will push the pair towards 1.9730(Higher BB)
• Strong support is seen at 1.9537(SMA 20) and break below could take the pair towards 1.9395(50%fib).
Recommendation: Good to buy around 1.9550, with stop loss of 1.9490 and target price of 1.9630
