• EUR/NZD rose higher on Tuesday as optimism surrounding Ukraine-Russia talks helped the euro gain against kiwi dollar
• The current upside pressure is deemed intact as long as the pair does not move below 38.2% fib support 1.6124 (5DMA).
• Technical signals show the pair could gain more ground in the short-term as RSI is at 62 bullish, daily momentum studies 5, 10 and 21 DMAs are trending up.
Immediate resistance is located at 1.8217 (38.2% fib), any close above will push the pair towards 1.8303 (23.6% fib).
Strong support is seen at 1.6159 (50% fib) and break below could take the pair towards 1.5977 (61.8% fib )
Recommendation: Good to buy around 1.6190, with stop loss of 1.6050 and target price of 1.6250
