• EUR/NZD rose higher as euro was boosted on expectation ECB will raise rate nxet week.
• The May 4 ECB meeting is fully priced for a 25bp hike, with a 1-in-5 chance of 50bps.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 70 bullish, daily momentum studies 5, 10 and 21 DMAs are trending up.
• Immediate resistance is located at 1.8097 (23.6%fib% fib), any close above will push the pair towards 1.8166 (Higher BB).
• Strong support is seen at 1.7948 (5DMA) and break below could take the pair towards 1.7853(38.2% fib )
Recommendation: Good to buy around 1.8000 , with stop loss of 1.7900 and target price of 1.8100
