• EUR/NZD strengthened on Monday as euro benefited from strongly weaker New Zealand dollar.
•EUR/NZD has seen a 1.7618 -1.7783 range on Monday .Today's bounce away from short-term support may be beginning of bull sign
• Technical signals show the pair could gain more ground in the short-term as RSI is at 58 bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.7794(23.6%fib), any close above will push the pair towards 1.7831 (July 12th high).
• Strong support is seen at 1.7692(5DMA) and break below could take the pair towards 1.7673 (38.2% fib )
Recommendation: Good to buy around 1.7770 with stop loss of 1.7700 and target price of 1.7850
