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FxWirePro: EUR/NZD bulls need more gains to zero in on key fibo resistance

• EUR/NZD  strengthened on Thursday  as Bank of England   half-point rate hike supported the pair.

• At GMT 19:58, the pair was trading up 0.18 percent  at 1.7740 after reaching daily high at 1.7755.

• EUR/NZD remains bullish, only a close back below  1.7582(50%fib), could upset the bullish order.

• Technical signals are bullish as RSI is at 61 bullish, daily momentum studies  5, 9 and 11 DMAs are trending  up

• Immediate resistance is located at 1.7791(23.6%fib ), any close above will push the pair towards 1.7862 (Higher BB).

• Strong support is seen at 1.7682 (38.2%fib) and break below could take the pair towards 1.7656 (5DMA)

Recommendation: Good to buy  around 1.7730 with stop loss of 1.7630  and target price of 1.7800
 

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