FxWirePro: EUR/NZD set for increasing upside potential, 1.7900 beckons

• EUR/NZD  rose above 1.7800 on  Monday   as the pairs bullish streak continued ahead of European Central Bank's monetary policy meeting later in the week.

•On the data front, Euro zone investor   morale   improved for the fifth consecutive month in March. Sentix's index   rose to -10.5 points in March from -12.9 in February .

• The pairs rise above the 38.2% fib has reinforced the growing bullish structure, putting focus on resistance at 1.7900 level.

• Technical signals show the pair could gain more ground as RSI is at 61 with 5, 10 and 21-day MAs in bullish alignment.

• Immediate resistance is located at 1.7823 (23.6% fib), any close above will push the pair towards 1.7855 (Higher BB ).

• Immediate support is seen at 1.7733 (38.2% fib) and break below could take the pair towards 1.7659 (50% fib).

Recommendation: Good to buy around 1.7790, with stop loss of 1.7670 and target price of 1.7860