• EUR /NZD strengthened on Thursday as the pair was supported by hawkish tones from the Swedish Riksbank and comments from BoE policymakers.
• The euro erased earlier losses against the kiwi dollar , the pair was last up at 0.06% at 1.6974 .
• Technical signals show the pair could gain more ground in the short-term as RSI is at 56,while moving averages are trending higher.
• Immediate resistance is located at 1.7000(Psychological level), any close above will push the pair towards 1.7070(23.6% fib).
• Immediate support is seen at 1.6958 (38.2% fib)and break below could take the pair towards 1.6909(11DMA).
Recommendation: Good to buy on dips around 1.6970, with stop loss of 1.6900 and target price of 1.7070.
