• 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






