• EUR/NZD strengthened on Thursday as euro benefited from strongly weaker New Zealand dollar.
•EUR/NZD has seen a 1.7950-1.8010 range on Thursday.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 51 bullish, daily momentum studies 5, 9 and 11 SMAs are trending up.
• Immediate resistance is located at 1.8038(38.2%fib), any close above will push the pair towards 1.8145(23.6%fib).
• Strong support is seen at 1.7953 (50% fib) and break below could take the pair towards 1.7865 (61.8% fib )
Recommendation: Good to buy around 1.7990 with stop loss of 1.7900 and target price of 1.8080
