• EUR/NZD rose sharply on Thursday after ECB raised rates as expected, signalled interest rate hike.
•The European Central Bank raised interest rates by half a percentage point and kept further hikes firmly on the table to bring runaway inflation under control.
• EUR/NZD jumps to 1.6788 after rate decision , 1.6788 is highest level for EUR/NZD since November 28th.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 64 bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.6788 (38.2%fib), any close above will push the pair towards 1.6878(Higher BB).
• Strong support is seen at 1.6613 (50%fib) and break below could take the pair towards 1.6558(9DMA )
Recommendation: Good to buy around 1.6750, with stop loss of 1.6660 and target price of 1.6830
