• EUR/NZD rose higher on Friday as broad based New Zealand dollar selling drove EUR/NZD sharply higher.
•The pair reaches 1.7559 after extending north from 1.7322 (Daily low). 1.7559 is the highest level since April 14th.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 49 bullish, daily momentum studies 5, 10 and 21 DMAs are trending up.
• Immediate resistance is located at 1.7529(5DMA), any close above will push the pair towards 1.7623 (23.6%fib).
• Strong support is seen at 1.7451 (38.2%fib ) and break below could take the pair towards 1.7327 (50% fib )
Recommendation: Good to buy around 1.7520 , with stop loss of 1.7420 and target price of 1.7600
