• EUR/NZD strengthened on Monday as remarks from ECB's Jochnick, equity gains & oil drop added euro buoyancy.
• Concerns of a resilient euro zone labour market and fears over the Middle East conflict have kept investors on the edge recently.
• Technical signals are bullish as RSI is at 52, daily momentum studies 5, 9 and 10 DMAs are trending up.
• Immediate resistance is located at 1.7882 (38.2%fib), any close above will push the pair towards 1.8002 (23.6%fib).
• Strong support is seen at 1.7812(50%fib) and break below could take the pair towards 1.7722 (Jul 6th low).
Recommendation: Good to buy around 1.7870, with stop loss of 1.7800 and target price of 1.7980
