• EUR/NZD dipped on Wednesday as weaker US CPI data and higher commodities prices helped lift kiwi dollar across the board.
• The pair dipped towards 1.6700 level, slide stopped after finding support at 1.6685 (38.2%fib ).
• EUR/NZD remains bullish, only a break and daily close above 1.9644 (61.8% fib) will shift bias to the upside.
• Technical are bullish, daily RSI is positive at 56, daily momentum studies 9 and 10 DMAs are trending north.
• Immediate resistance is located at 1.6790 (Higher BB ), any close above will push the pair towards 1.6824(23.6%fib).
• Strong support is seen at 1.6688(38.2%fib) and break below could take the pair towards 1.6657 (21DMA)
Recommendation: Good to buy around 1.6700, with stop loss of 1.6600, and target price of 1.6760
