FxWirePro:EUR/NZD extends gains, critical resistance lies ahead

• EUR/NZD firmed on Wednesday after  Bundesbank chief also talked about the upcoming German election and both Germany and Europe's need for change.

• Bundesbank President Joachim Nagel said on Wednesday that the ECB should avoid targeting a  neutral  interest rate and instead ease policy gradually, while being prepared to defend Europe if a global trade war arises.

•The ECB has cut interest rates five times since last June and hinted at even more in the coming months as the economy ails, fuelling speculation about how far it might cut its 2.75% benchmark rate.

• EUR/NZD has seen range 1.8400-1.8431 the pair is likely to be gain towards 1.8300 level.

• Immediate resistance is located at 1.8454 (23.6% fib), any close above will push the pair towards 1.8502 (Higher BB).

• Immediate support is seen at 1.8320 (38.2% fib) and break below could take the pair towards 1.8225 (50% fib).

Recommendation: Good to buy  round 1.8210, with stop loss of 1.8150 and target price of 1.8300