FxWirePro:EUR/NZD stuck in a range but maintains bullish bias

• EUR/NZD dipped initially but recovered ground as investors assessed US inflation data and its potential implications for the global interest-rate outlook.

• The US Consumer Price Index rose 0.6% last month after climbing 0.4% in August, the Labor Department's Bureau of Labor Statistics said on Wednesday.

•Separate data showed, German wholesale ​prices rose by ‌8.7% in September compared ​with ​the same ⁠month ​last ​year, according to data ​released ​by the ‌federal ⁠statistics office on Wednesday.

•Markets see about a 44% chance of a US rate hike this month, up from about 22% before the inflation data, and are pricing a 95% probability of an increase in December, according to CME's FedWatch Tool.

• EUR/NZD has seen range 1.9950-2.0000 the pair is likely to be gain towards 2.0100 level.

• Immediate resistance is located at 2.0015 (38.2% fib), any close above will push the pair towards 2.0072 (Oct 6th high).

• Immediate support is seen at 1.9929 (Lower BB) and break below could take the pair towards 1.9980(50% fib).

Recommendation: Good to buy round 1.9950, with stop loss of 1.9860, and target price of 2.0100