• EUR/NZD strengthened on Thursday as New Zealand dollar was weighed down by lower equity , and commodity prices.
• A rally towards bigger resistance at 1.8323 is possible if EUR/AUD bulls overcome resistance at 38.2%fib.
• From a technical viewpoint, RSI is strongly bullish at 57, daily momentum studies, 5, 10 and 11 daily MAs are pointing higher.
• Immediate resistance is located at 1.8202 (38.2%fib), any close above will push the pair towards 1.8323(23.6%fib).
• Immediate support is seen at 1.8137(5DMA) and break below could take the pair towards 1.8109(50%fib).
Recommendation: Good to buy on dips around 1.8180, with stop loss of 1.8100 and target price of 1.8250
