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FxWirePro: EUR/NZD uptrend looks tired, but continues to hold

• EUR/NZD strengthened on Monday as weaker kiwi dollar benefited bulls, but  the gains were  capped   ahead of  a week full of central bank meetings

• 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. 

• Pair traded in   1.6287/1.6403  range and was last trading at 1.6335 in late US session.

• Technical signals are bullish as RSI is at 62, daily momentum studies  5,9 and 10 DMAs are trending up.

•  Immediate resistance is located at 1.6371( 23.6%fib), any close above will push the pair towards 1.6493 (Higher BB)

• Strong  support is seen at 1.6262 (5DMA ) and break below could take the pair towards 1.6185  (38.2%fib).

Recommendation: Good to buy  around 1.6330, with stop loss of 1.6200 and target price of 1.6430.

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