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FxWirePro: EUR/NZD steadies above 1.6800, retains bid tone

• EUR/NZD strengthened  on Wednesday   as broad based New Zealand dollar selling drove EUR/NZD   higher. 

• Kiwi dollar turned negative   led by sliding oil price, other commodities started to fall with Dalian iron ore falling over 4.0%.

• Technicals highlight upside as  RSIs imply upside momentum, while moving averges are trending north. 

• Immediate resistance is located at 1.6875 (Higher BB), any close above will push the pair towards 1.6979 (23.6%fib).

• Strong support is seen at 1.6705 (38.2%fib) and break below could take the pair towards 1.6648 (10DMA ).

Recommendation: Good to buy around 1.6790, with stop loss of 1.6700and target price of 1.6970

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