• EUR/NZD rose higher on Thursday as euro was supported by positive German inflation data which came in higher than expected.
• EUR/NZD recovers towards above 1.6753 and holds near the day's high in US session.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 50 bullish, daily momentum studies 5, 10 and 21 DMAs are trending up.
• Immediate resistance is located at 1.6763(38.2% fib), any close above will push the pair towards 1.6820(100DMA).
• Strong support is seen at 1.6676 (50% fib) and break below could take the pair towards 1.6614 (Lower BB )
Recommendation: Good to buy around 1.6700, with stop loss of 1.6670 and target price of 1.6820
