• EUR/NZD strengthened on Monday as weaker kiwi dollar benefited bulls, but the gains were capped amid middle east tensions.
• The is pair heading towards the 23.6%fib, as near term direction of the pair is likely to be driven by current price action.
• Technical signals are bullish as RSI is at 55, daily momentum studies 5,9 and 10 DMAs are trending up.
• Immediate resistance is located at 1.8037( 23.6%fib), any close above will push the pair towards 1.8083 (April 3rd high)
• Strong support is seen at 1.7959 (9DMA ) and break below could take the pair towards 1.7931 (38.2%fib).
Recommendation: Good to buy around 1.7980, with stop loss of 1.7880 and target price of 1.8060
