• EUR/NZD made strong gains on Monday as New Zealand dollar weakened as investors became cautious and cut down on risk amid worries about increasing coronavirus restrictions in Asia .
• Today's sharp gains have put EUR/NZD above the 10- & 21-DMAs again, EUR/NZD longs have the advantage but need to overcome key impediments.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 56 bullish, daily momentum studies 5, 9 DMAs are trending up.
•Resistance Levels : 1.6870 (38.2%fib) , 1.6905(Daily high), 1.6963 (23.6%fib)
• Support Levels: 1.6794 (50%fib), 1.6772 (30DMA), 1.6725 ( 61.8%fib)
Recommendation: Good to on dips around 1.6820, with stop loss of 1.6715 and target price of 1.6960
