• EUR/NZD initially dipped on Wednesday but recovered some ground after the Federal Reserve signaled its inflation target had been met and that it would raise interest rates in 2022.
• EUR/NZD initially dipped but found buyers at 1.6623, a break and daily close above 1.6662 (5DMA) will accelerate further gains towards 1.6750.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 59 bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.6662 (5DMA), any close above will push the pair towards 1.6720 (32.8%fib).
• Strong support is seen at 1.6623 (50%fib) and break below could take the pair towards 1.6527(61.8% fib )
Recommendation: Good to buy around 1.6640, with stop loss of 1.6500 and target price of 1.6740
