• EUR/NZD rose higher on Thursday as euro continued to receive warm welcome from market on EU's mutualized relief plan.
• EUR/NZD bulls have to contend with strong resistance at 1.7818 (100 DMA). If EUR/NZD longs overcome that level, tests of 1.7900 resistance is likely.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 66 bullish, daily momentum studies 5, 9 DMAs are trending up.
•Resistance Levels : 1.7775 (50%fib) , 1.7818 (100 DMA), 1.7900 (Psychological level) .
• Support Levels: 1.7657 (Daily low), 1.7628 (5DMA), 1.7500 ( 61.8%fib).
Recommendation: Good to buy on dips around 1.7710, with stop loss of 1.7600 and target price of 1.7820
