FxWirePro: EUR/NZD steadies above 1.7900 , retains bid tone

• EUR/NZD rose sharply  on Monday  as the pairs bullish  allure persisted across the board on ECB rate hike expectations.

• Investors bet the European Central Bank will raise its main interest rate to above 3.8% and braced for key economic data later in the week.

• EUR/NZD  rose above 1.7900  level . A break and daily close above 23.6%fib  will accelerate further gains.

• Technical signals show the pair could gain more ground in the short-term as RSI is at 64 bullish, daily momentum studies  5, 9 and 11 DMAs are trending  up. 

• Immediate resistance is located at 1.7920 (23.6%fib), any close above will push the pair towards 1.7960(Higher BB).

• Strong support is seen at 1.7821(5 DMA) and break below could take the pair towards 1.7762 (38.2% fib ).

Recommendation: Good to buy around 1.7830, with stop loss of 1.7730  and target price of 1.7980