• EUR/NZD rose higher on Thursday on as broad based New Zealand dollar selling drove EUR/NZD sharply higher .
•The currency traded in the range of 1.6629 and 1.6800, a clear break of 38.2% fib is likely unleash a large move.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 60 bullish, daily momentum studies 5, 10 and 21 DMAs are trending up.
• Immediate resistance is located at 1.6753 (Higher BB), any close above will push the pair towards 1.6803 (38.2% fib).
•Immediate support is seen at 1.6690 (50% fib) and break below could take the pair towards 1.6659 (61.8% fib )
Recommendation: Good to buy around 1.6720, with stop loss of 1.6640 and target price of 1.6800
