• EUR/NZD strengthened on Wednesday as the pair recovered from early dip as geopolitical concerns eased.
• The euro erased Tuesday's losses against the kiwi dollar , the pair was last up at 0.66% at 1.6909 .
• EUR/NZD bulls confidence is running high, a test of the 38.2%fib highly seems likely.
• From a technical viewpoint, RSI is strongly bullish at 51, daily momentum studies, 5, 10 and 11 daily MAs are pointing higher.
• Immediate resistance is located at 1.6940 (Daily high), any close above will push the pair towards 1.7038(23.6%fib).
• Immediate support is seen at 1.6758 (38.2%fib) and break below could take the pair towards 1.6676 (Lower BB).
Recommendation: Good to buy on dips around 1.6900, with stop loss of 1.6790 and target price of 1.6980
