• EUR/NZD retreated from daily high on Tuesday as the pair gains faded after market sentiment soured and USD gained on safe-haven demand.
• Price slides to 1.7077 from 1.7286 ,Price contained between two Fibo retrace levels, 1.7253 and 1.7043.
• Technical signals are bullish as RSI is at 54, daily momentum studies 5, 9 and 10 DMAs are trending north.
• Immediate resistance is located at 1.7178 (Feb 21st high), any close above will push the pair towards 1.7253(23.6% fib).
• Strong support is seen at 1.7084 (38.2% fib) and break below could take the pair towards 1.7043 (14DMA).
Recommendation: Good to buy on dips around 1.7100, with stop loss of 1.7000 and target price of 1.7180
