• EUR/NZD strengthened on Wednesday as ebbing banking woes, risk-on vibe and weaker dollar drove EUR/NZD higher.
•The pair reaches 1.7439 after recovering from 1.7296.Consolidation likely to continue while market seeks fresh factors.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 60 bullish, daily momentum studies 5, 10 and 14 DMAs are trending up.
• Immediate resistance is located at 1.7445 (Daily high), any close above will push the pair towards 1.7519(23.6% fib).
• Strong support is seen at 1.7386 (5DMA) and break below could take the pair towards 1.7274 (38.2% fib )
Recommendation: Good to buy around 1.7400 , with stop loss of 1.7320 and target price of 1.7480
