• EUR/NZD rose higher on Thursday as broad based New Zealand dollar selling drove EUR/NZD sharply higher.
•The pair reaches 1.9685 after extending north from 1.9550 (Daily low). 1.9685 level is the highest level since July 22nd.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 62 bullish, daily momentum studies 5, 10 and 21 DMAs are trending up.
• Immediate resistance is located at 1.9760 (Higher BB), any close above will push the pair towards 1.9900(Psychological level).
• Strong support is seen at 1.9633 (38.2% fib) and break below could take the pair towards 1.9546(SMA 20 )
Recommendation: Good to buy around 1.9670, with stop loss of 1.9600 and target price of 1.9800
