• EUR /NZD strengthened on Thursday as weak kiwi dollar and fears that the Federal Reserve would stick to its hawkish monetary policy lifted the pair higher.
• The euro ganed 0.29% against kiwi dollar , rise above the 1.6981(38.2% fib)has reinforced the growing bullish strength.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 60,while moving averages are trending higher.
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• Immediate resistance is located at 1.7091(23.6% fib), any close above will push the pair towards 1.7270(Higher BB).
• Immediate support is seen at 1.6981(38.2% fib)and break below could take the pair towards 1.6954 (5DMA).
Recommendation: Good to buy on dips around 1.7050, with stop loss of 1.6950 and target price of 1.7120.
