• EUR/NZD initially dipped but recovered ground on Thursday ahead of euro zone inflation data on Friday
• EUR/NZD fell as low as 1.7885 before buyers returned .EUR/AUD is moving higher around 1.7912 at the time of writing.
• Technical signals are bullish as RSI is at 63, daily momentum studies 10,11 and 14 DMAs are trending down.
• Immediate resistance is located at 1.7974 ( Daily high), any close above will push the pair towards 1.8037 (23.6%fib)
• Support is seen at 1.7842 (5DMA ) and break below could take the pair towards 1.7810 (38.2%fib).
Recommendation: Good to buy around 1.7900, with stop loss of 1.7790 and target price of 1.7980.
