• EUR/NZD rose on Friday as the pair gained bullish traction after Bank of Japan made its yield curve control policy more flexible.
• The pair swung higher immediately after the announcement as traders assesed BoJ policy tweak implications.
•EUR/NZD has seen a 1.7731 -1.7920range on Friday.Today's bounce away from support 1.7751(21DMA) may be beginning of bull sign
• Technical signals show the pair could gain more ground in the short-term as RSI is at 58 bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.7940(23.6%fib), any close above will push the pair towards 1.7999 (Higher BB).
• Strong support is seen at 1.7751(21DMA) and break below could take the pair towards 1.7694 (38.2% fib )
Recommendation: Good to buy around 1.7860 with stop loss of 1.7800 and target price of 1.7950
