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FxWirePro: EUR/NZD loses momentum but outlook is bullish

• EUR/NZD initially dipped on Wednesday but pulled back some ground after the U.S. Federal Reserve hiked interest rates by an expected 75 basis points. 

• EUR/NZD neared 38.2%fib before pulling back near 1.6821 in US session.

•  Technical signals  are  bullish as RSI is 67, daily momentum studies  9, 11 and 21 DMAs are trending up. 

• Immediate resistance is located at 1.6917 (23.6%fib), any close above will push the pair towards 1.6948 (Higher BB)

• Strong support is seen at 1.6803 (5DMA ) and break below could take the pair towards 1.6734(38.2%fib).

Recommendation: Good to buy around 1.6830, with stop loss of 1.6750 and target price of 1.6900.

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