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• 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
