• EUR/NZD rose higher on Monday on as broad based New Zealand dollar selling drove EUR/NZD sharply higher towards.
• At GMT 17:23, the pair was trading up 0.59 percent at 1.7465.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 66 bullish, daily momentum studies 5, 10 and 21 DMAs are trending up.
• Immediate resistance is located at 1.7477 (23.6% fib), any close above will push the pair towards 1.7568 (Higher BB).
• Strong support is seen at 1.7350 (5DMA) and break below could take the pair towards 1.7249 (38.2% fib )
Recommendation: Good to buy around 1.7460, with stop loss of 1.7380 and target price of 1.7550
