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• EUR/NZD initially declined on Monday, but Christine Lagarde's cheering remarks about the rapid economic recovery this year limited pairs earlier losses.
• Lagarde said that as consumers resume consumption, the euro zone's economic growth may recover faster than expected.
• EUR/NZD recovered from daily low, keeping bullish sentiment intact as the pair found support at 1.7021 (38.2% fib).
• EUR/NZD remains bullish, only a close back below 1.6951 (50%fib), could upset the bullish order.
• Immediate resistance is located at 1.7099 (23.6%% fib), any close above will push the pair towards 1.7143 (Higher BB).
• Strong support is seen at 1.7021 (38.2% fib) and break below could take the pair towards 1.6951 (50%fib).
Recommendation: Good to buy around 1.7020, with stop loss of 1.6940 and target price of 1.7120
