• EUR/NZD edged higher on Wednesday but gains were limited as traders held off from making big moves ahead of U.S. inflation data on Thursday .
• At GMT 17:07, the pair was trading up 0.48 percent at 1.6923 after reaching daily high at 1.6972.
• A rally towards 1.7000 zone is possible if EUR/NZD bulls overcome resistance at 38.2%fib.
• From a technical viewpoint, RSI is strongly bullish at 56, daily momentum studies, 5, 10 and 11 daily MAs are pointing higher.
• Immediate resistance is located at 1.6958 (38.2%fib), any close above will push the pair towards 1.7011 (Higher BB).
• Immediate support is seen at 1.6825 (50%fib) and break below could take the pair towards 1.6746(Jan 6th low).
Recommendation: Good to buy on dips around 1.6900, with stop loss of 1.6780 and target price of 1.6980
