• EUR/NZD rally extended towards 1.7650 on Wednesday as market focus turned European Central Bank's(ECB) minutes for its September policy meeting on Thursday
• The pair trading 0.05% higher at 1.7656 , recovering from intraday low at 1.7535
• The EUR/NZD is consolidating above the 5-Day moving average (DMA), but it is facing resistance at the crucial 1.0630 resistance area.
• A rally towards bigger resistance in the 1.7750 zone is possible if EUR/NZD bulls overcome interim resistance at 38.2% fib.
• Immediate resistance is located at 1.7649 (38.2% fib), any close above will push the pair towards 1.7778 (50 % fib).
• Immediate support is seen at 1.7605(5DMA) and break below could take the pair towards 1.7503 (23.6%fib).
Recommendation: Good to buy on dips around 1.7630, with stop loss of 1.6540 and target price of 1.7700
