FxWirePro: EUR/NZD uptrend loses steam, remains on bullish path

• EUR/NZD eased slightly on Wednesday  as   investors assessed fiscal challenges after a selloff in longer-dated bonds had sparked risk-off sentiment in the previous session. 

• On the data front, a private survey showed the euro zone economy kept expanding at a snail's pace in August, as weaker services growth offset improved manufacturing output.

• German services sector activity contracted slightly in August after a marginal expansion in July, as new business shrank again, a survey showed.

• Technical are favouring bullish sentiment as RSI is at 58 and the pair is trading above  5,9 SMAs.

• Immediate resistance is located at 2.0053( 23.6%% fib), any close above will push the pair towards 2.0137 ( Higher BB)

• Support is seen at 1.9773(SMA 20) and break below could take the pair towards 1.9731(38.2% fib)

 Recommendation: Good to buy 1.9820 with stop loss of 1.9700 and target price of 1.9900