• EUR/NZD strengthened on Friday as hawkish shift from the European Central Bank continued to boosted euro.
• The pair is currently approaching resistance at 38.2%fib. A break and daily close above will accelerate further gains towards 1.7400 level.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 79 bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.7338(38.2%fib), any close above will push the pair towards 1.7404 (23.6%fib).
• Strong support is seen at 1.7286(50%fib) and break below could take the pair towards 1.7241 (61.8% fib ).
Recommendation: Good to buy around 1.7300 with stop loss of 1.7210 and target price of1.7400
