FxWirePro: EUR/NZD consolidating around 1.6980, bias is bullish

• EUR/NZD initially dipped on Thursday but recovered ground as improved risk sentiment drove the pair higher.

• The pair is holding near today's high, A close above 1.7043(23.6%fib), will likely trigger a new bullish phase with potential for 1.7100.

• Technical favours bullish sentiment, RSI is rising & pair trades above 5 and 9-DMAs. 

• Immediate resistance is located at 1.7043(23.6%fib), any close above will push the pair towards 1.7077 (Jan 19th high).

• Immediate support is seen at 1.6945(38.2%fib ) and break below could take the pair towards 1.6780 (50%fib).

Recommendation: Good to buy around 1.6950, with stop loss of 1.6860 and target price of 1.7050