• EUR/ NZD initially dipped on Wednesday but recovered ground as bids emerged around 1.8059 level.
• At GMT 16:12, the pair was trading down 0.30 percent at 1.8175 after reaching daily low at 1.9144.
• A close above 1.8196 resistance will give further momentum to bulls, opening the way for a run toward 1.8245 level.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 62,while moving averages and MACD are trending higher.
• Immediate resistance is located at 1.8196 (Daily high), any close above will push the pair towards 1.8249(23.6%fib).
• Immediate support is seen at 1.8103 (38.2%fib) and break below could take the pair towards 1.8044 (9DMA).
Recommendation: Good to buy around 1.8150, with stop loss of 1.8050 and target price of 1.8220
