• EUR/NZD rebounded above 1.6250 on Friday after latest US data indicated moderating inflation and hawkish ECB talk policymakers want to discuss 75bps hike.
• EUR/NZD turned positive pierced the 14-DMA and 38.2% fib resistance hit daily high at 1.6253, putting focus on resistance at 1.6301(50% fib).
• Technical signals show the pair could gain more ground as RSI is at 51 with 5, 14 and 21-day MAs in bullish alignment.
• Immediate resistance is located at 1.6301(50% fib), any close above will push the pair towards 1.6351(Higher BB).
• Immediate support is seen at 1.6161 (38.2% fib) and break below could take the pair towards 1.6085 (14 DMA).
Recommendation: Good to buy around 1.6250, with stop loss of 1.6160, and target price of 1.6360
