• EUR/NZD initially dipped on Wednesday after of unscheduled ECB meeting but bounced slightly Fed policy announcement .
•In an up-and-down session, the pair hit low at 1.6568 in early trading then gained towards 1.6677 after the Fed delivered a widely expected 75bps rate hike.
•The pair is currently approaching resistance at 38.2%fib. A break and daily close above will accelerate further gains towards 1.7400 level.
• Technical signals are bullish are as RSI is bullish at 56, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.6706 (Higher BB), any close above will push the pair towards 1.6808 (23.6%fib).
• Strong support is seen at 1.6568(38.2%fib) and break below could take the pair towards 1.6525 (21DMA).
Recommendation: Good to buy around 1.6620 with stop loss of 1.6500 and target price of 1.6720
