• EUR/NZD strengthened on Monday as investors digested Sunday's French vote.
• The French far right took a smaller-than-expected lead in the first round of voting, suggesting a hung parliament could result and hamper the party's agenda.
• The pair is currently approaching resistance at 1.5745( 38.2%fib), A clear break above 1.5745 targets eventual test 23.6% fib resistance.
• From a technical viewpoint, RSI is strongly bullish at 53, daily momentum studies, 5, 10 and 11 daily MAs are pointing higher.
• Immediate resistance is located at 1.7689 (38.2%fib), any close above will push the pair towards 1.7775(23.6%fib).
• Immediate support is seen at 1.7626(50%fib) and break below could take the pair towards 1.7756 (61.8%fib).
Recommendation: Good to buy on dips around 1.7670, with stop loss of 1.7550 and target price of 1.7730
