• EUR/NZD gained on Tuesday as accelerating vaccination in Europe sparked optimism of broader economic rebound Eurozone supported euro.
• EUR/AUD remains relatively bullish, having recent shallow pullbacks short-lived so far.
• EUR/NZD ‘s rally has so far held above the 50% fibo at 1.6896, a close above the 1.6986 ( 38.2%fib) hurdle would further brighten the prospects for the pair.
• Technical signals are bullish as RSI is at 62, daily momentum studies 5,9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.6986 ( 38.2%fib), any close above will push the pair towards 1.7095 ( 23.6%fib)
• Support is seen at 1.6896(50%fib ) and break below could take the pair towards 1.6848 (9DMA).
Recommendation: Good buy around 1.6930 with stop loss of 1.6860 and target price of 1.7000
