• EUR/NZD strengthened on Thursday as euro was boosted on expectation European Central Bank is expected to begin a hiking cycle in July.
• EUR/NZD turned positive and rally extended toward 1.6650 , the pair is likely to gain further traction.
• EUR/USD longs are very encouraged as tech signals indicate rally is due,10-DMA is likely to cross over 21-DMA.
• Immediate resistance is located at 1.66605(38.2%fib), any close above will push the pair towards 1.6697(May 24th high).
• Strong support is seen at 1.6513 (21DMA) and break below could take the pair towards 1.6428(38.2%fib).
Recommendation: Good to buy around 1.6560 with stop loss of 1.6460 and target price of 1.6650
