FxWirePro :EUR/NZD rallies 1-week high, good to buy on dips

• EUR/NZD rose higher on Friday as euro continued to receive warm welcome from market on EU Commission's recovery proposal.

• EUR/NZD bulls have to contend with strong resistance at 1.7879 (38.2% fib). If EUR/NZD longs overcome that level, tests of 1.8069 (50 DMA) resistance is likely. 

• Technical signals show the pair could gain more ground in the short-term as RSI is at 51 bullish, daily momentum studies  5, 9   DMAs are turning up. 

• Resistance Levels : 1.7906 (9DMA) ,1.7974 (38.2%fib), 1.8069 (50 DMA)  
     
• Support Levels: 1.7853 (9DMA), 1.7812(Daily low), 1.7700( 100 DMA)

Recommendation: Good to on dips around 1.7850, with stop loss of 1.7700 and target price of 1.8100