• EUR/NZD rose higher on Thursday on as broad based New Zealand dollar selling drove EUR/NZD higher .
• EUR/NZD gains near 38.2%fib,consolidation likely to continue while market seeks fresh factors.
•Technical signals show the pair could gain more ground in the short-term as RSI is at 57 bullish, daily momentum studies 5, 10 and 21 DMAs are trending up.
• Immediate resistance is located at 1.6923 (38.2% fib), any close above will push the pair towards 1.7000 (Psychological level).
• Strong support is seen at 1.6837 (14DMA) and break below could take the pair towards 1.6814 (50% fib )
Recommendation: Good to buy around 1.6900, with stop loss of 1.6820 and target price of 1.6970
