FxWirePro: USD/JPY consolidates cloud breakout, Fed's hawkish shift and improving risk appetite likely to support upside
FxWirePro: EUR/NZD consolidating around 1.7020, bias is bullish
• EUR/NZD initially gained on Wednesday but gave up some ground as risk aversion pulled back the pair from daily highs.
• The pair is holding near today's high, A close above 1.7055( 38.2%fib), will likely trigger a new bullish phase with potential for 1.7100.
• Technical favours bullish sentiment, RSI is trending up & pair trades above 5 and 9-DMAs.
• Immediate resistance is located at 1.7055( 38.2%fib), any close above will push the pair towards 1.7100 (Higher BB)
• Immediate support is seen at 1.7005(50%fib ) and break below could take the pair towards 1.6954 (61.8% fib).
Recommendation: Good to buy around 1.7000, with stop loss of 1.6940 and target price of 1.7100