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FxWirePro: EUR/NZD consolidates around 1.7615, maintains bullish bias

• EUR/NZD strengthened on Monday   as the pairs bullish  allure persisted as traders raised their bets on where the European Central Bank’s (ECB) main interest rate will peak.

• ECB Officials supported ECB official and Slovakian central bank chief Peter Kazimir said on Monday that  a continuation of monetary.

• A daily close above 23.6% fib will further improve the technical outlook, and open the possibility of a rally towards 1.7700 level.

• Technical signals show the pair could gain more ground in the short-term as RSI is at 67 bullish, daily momentum studies  5, 9 and 11 DMAs are trending  up.

• Immediate resistance is located at 1.7665(23.6% fib), any close above will push the pair towards 1.7743(8th June high).

• Strong support is seen at 1.7568(5DMA) and break below could take the pair towards 1.7534 (38.2% fib )

Recommendation: Good to buy around 1.7600, with stop loss of 1.7500 and target price of 1.7700

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