• EUR/NZD strengthened on Wednesday as the pair was propelled by the euro’s robust performance against the declining New Zealand dollar.
• Traders will keep an eye on New Zealand’s NBNZ own activity and NBNZ Own Activity on Thursday.
• The pair currently is approaching resistance at 23.6%fib resistance. A break above would unmask 1.8100 level in the short term.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 55,while moving averages are trending higher.
• Immediate resistance is located at 1.8072 (23.6%fib), any close above will push the pair towards 1.8110 (Higher BB).
• Immediate support is seen at 1.8000 (Daily low) and break below could take the pair towards 1.7959 (38.2%fib).
Recommendation: Good to buy around 1.8040, with stop loss of 1.7900 and target price of 1.8100
