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FxWirePro: EUR/NZD uptrend stalled, progress needed soon to sustain

• EUR/NZD dipped on Tuesday  as improved risk appetite boosted demand for kiwi dollar  .

• The pair fell below the 5-DMA but couldn't get lower than 1.7330 as bulls consolidated their footings.

• From a technical viewpoint, RSI  is bullish at 57, daily momentum studies, 5, 10 and 11 daily  MAs are pointing higher.

• Immediate resistance is located at 1.7360 (5DMA), any close above will push the pair towards 1.7415(23.6%fib).

• Immediate support is seen at 1.7275(38.2%fib) and break below could take the pair towards 1.7160 (50%fib).

Recommendation: Good to buy on dips around 1.7330, with stop loss of 1.7150 and target price of 1.7430

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