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

• EUR/NZD strengthened on Tuesday  as weaker kiwi dollar benefited bulls, but  the gains were  capped.   

• 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   1.6860/1.7060  range and was last trading at 1.7029 into the US afternoon. 

• Technical signals are bullish as RSI is at 70, daily momentum studies  5,9 and 10 DMAs are trending up. 

•  Immediate resistance is located at 1.7070( 23.6%fib), any close above will push the pair towards 1.7129(Higher BB).

• Strong  support is seen at 1.6953 (5DMA ) and break below could take the pair towards 1.6891  (38.2%fib).

Recommendation: Good to buy  around at 1.7000, with stop loss of 1.6900 and target price of 1.7100.