• EUR/NZD rose higher on Wednesday on optimism that, coronavirus impact is close to easing.
•The pair reaches 1.8262 after extending north from 1.7953 (early Asia low). 1.8262 is the highest level since April 8th.
• 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.
• On the upside, Immediate resistance is located at 1.8217 (38.2% fib), any close above will push the pair towards 1.8303 (23.6% fib).
• On the downside, strong support is seen at 1.8146 (50% fib) and break below could take the pair towards 1.8076 (61.8% fib )
Recommendation: Good to buy around 1.8100, with stop loss of 1.8070 and target price of 1.8400
