• EUR/NZD rose sharply on Tuesday as an improving Eurozone economic outlook lifted euro against kiwi dollar.
•Data showed S&P Global's flash Composite Purchasing Managers' Index (PMI), seen as a good gauge of the bloc's overall economic health climbed to a nine-month high of 52.3 in February .
• The pair is currently approaching resistance at 38.2%fib. A break and daily close above will accelerate further gains towards 1.6700 level.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 60 bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.7151 (23.6%fib), any close above will push the pair towards 1.7180(Higher BB).
• Strong support is seen at 1.7104(5DMA) and break below could take the pair towards 1.7043 (38.2% fib )
Recommendation: Good to buy around 1.7100 with stop loss of 1.7080 and target price of 1.7180
