• EUR/NZD rose higher on Tuesday as euro was lifted on expectation ECB will hike 75bps next week.
• The pair picked up upside momentum and is approaching 1.6358 (38.2% fib), an eventual break above will accelerate further upside.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 56 bullish, daily momentum studies 5, 10 and 21 DMAs are trending up.
• Immediate resistance is located at 1.6358 (38.2% fib), any close above will push the pair towards 1.6421 (Higher BB).
• Strong support is seen at 1.6221 (50% fib) and break below could take the pair towards 1.6141 (21DMA ).
Recommendation: Good to buy around 1.6320, with stop loss of 1.6250 and target price of 1.6400
