• EUR/NZD strengthened on Monday as but gains were limited in holiday thinned trade as market seeked fresh factors.
• At GMT 17:25, the pair was trading up 0.21 percent at 1.7470 after reaching daily high at 1.7511.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 59 bullish, daily momentum studies 5, 9 and 11 DMAs are trending up..
• Immediate resistance is located at 1.7511(23.6%fib), any close above will push the pair towards 1.7555(38.2%fib)
• Immediate support is seen at 1.7416(Daily low ) and break below could take the pair towards 1.7395 (5DMA).
Recommendation: Good to buy around 1.7460, with stop loss of 1.7350 and target price of 1.7510.
