•EUR/NZD recovered some ground after initially falling as the pair was aided by profit-taking on shorts.
•After hitting 1.7982 (50%fib ) support, pair has recovered to 1.8081, EUR/NZD may need a break above 38.2%fib to clear assault on next major resistance at 23.6%fib.
• Technical signals are bullish as RSI is at 54, daily momentum studies 5, 9 and 10 DMAs are trending up.
• Immediate resistance is located at 1.8080(38.2%fib), any close above will push the pair towards 1.8215(23.6%fib)
• Support is seen at 1.7982 (50%fib ) and break below could take the pair towards 1.7880 (61.8%fib).
Recommendation: Good to buy around 1.8050, with stop loss of 1.7950 and target price of 1.8150
