• EUR/NZD strengthened on Thursday as euro benefited on hopes a new budget could be passed in France after Prime Minister Michel Barnier's government was toppled.
• Investors found reassurance in comments from Marine Le Pen of the far-right National Rally (RN), which voted to oust Barnier. Le Pen stated that she had no intention of seeking the removal of President Emmanuel Macron and expressed confidence that a budget could be passed within weeks.
•EUR/NZD has seen a 1.7915 -1.8021 range on Thursday. Scope is growing for much bigger gains in upcoming sessions
• Technical signals show the pair could gain more ground in the short-term as RSI is at 53 bullish, daily momentum studies 5, 9 and 11 SMAs are trending up.
• Immediate resistance is located at 1.8024 (23.6%fib), any close above will push the pair towards 1.8052 (Higher BB).
• Strong support is seen at 1.7957(38.2%fib) and break below could take the pair towards 1.7905 (50% fib )
Recommendation: Good to buy around 1.7980 with stop loss of 1.7900 and target price of 1.8100
