• EUR/NZD rose higher on Thursday as broad based New Zealand dollar selling drove EUR/NZD sharply higher.
•The pair reaches 1.7600 level after extending north from 1.7518 (early Asia low). 1.7600 is the highest level since 11th June.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 51 bullish, daily momentum studies 5, 10 and 21 DMAs are trending up.
• Immediate resistance is located at 1.7624 (38.2%fib ), any close above will push the pair towards 1.7704 (50%fib ).
• Strong support is seen at 1.7514 (23.6% fib) and break below could take the pair towards 1.7488 (June 26th low )
Recommendation: Good to buy around 1.7590 , with stop loss of 1.7500 and target price of 1.7660
