• EUR/NZD rose higher on Friday as increased pace of vaccination in Eurozone supported euro.
• EUR/NZD lifts further above 1.6772(50% fib). A test of 1.6876 (61.8%fib) resistance zone cannot be ruled out.
• Technical signals indicate bullish movement, as RSI is at 51, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.6819(100DMA), any close above will push the pair towards 1.6876 (61.8%fib).
• Strong support is seen at 1.6772(50% fib) and break below could take the pair towards 1.6703 (50DMA ).
Recommendation: Good to buy around 1.6770 with stop loss of 1.6660 and target price of 1.6850
