• EUR/NZD strengthened on Tuesday as broad based New Zealand dollar selling drove EUR/NZD sharply higher.
• EUR/NZD has seen a 1.7693-1.7885 range on Tuesday, 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 55 bullish, daily momentum studies 5, 10 and 21 DMAs are trending up.
• Immediate resistance is located at 1.7916 (July 31st high), any close above will push the pair towards 1.7996 (23.6%fib).
• Strong support is seen at 1.7827(21DMA) and break below could take the pair towards 1.7683 (50% fib )
Recommendation: Good to buy around 1.7850 , with stop loss of 1.7760 and target price of 1.7950
