• EUR/NZD strengthened on Wednesday as euro firmed as investors focused on the impact of French no-confidence vote.
• Investors also digested comments from European Central Bank President Christine Lagarde in a parliamentary hearing on Wednesday. She said the ECB will continue to lower rates, but did not commit to any pace of easing.
• The ECB will next meet on Dec. 12, and economists overwhelmingly expect another 25 basis point rate cut, the fourth such move this year.
• From a technical viewpoint, RSI is bullishat 51, daily momentum studies, 5, 10 and 11 daily MAs are pointing up .
• Immediate resistance is located at 1.8009(23.6%fib), any close above will push the pair towards 1.8047 (Higher BB).
• Immediate support is seen at 1.7913 (38.2%fib) and break below could take the pair towards 1.7838(50%fib).
Recommendation: Good to buy around 1.7950, with stop loss of 1.7880 and target price of 1.8020
