• EUR/NZD initially gained but gave up ground as investors booked profits ahead of long week end.
• EUR//NZD has run out of steam after hitting daily high at 1.7829, but the pair is holding onto bull territory .
• Technical signals show the pair could gain more ground in the short-term as RSI is at 65 bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.7899(38.2%fib), any close above will push the pair towards 1.7962 (May 6th high).
• Strong support is seen at 1.7800(38.2% fib) and break below could take the pair towards 1.7726 (50% fib )
Recommendation: Good to buy around 1.7820 with stop loss of 1.7700 and target price of 1.7880
