• EUR/NZD rose higher on Tuesday as hawkish remarks from ECB president drove EUR/NZD pair sharply higher.
• EUR/NZD vaulted higher, rising above 5-day moving average resistance. A break of 1.7814 resistance is likely.
• Technical signals indicate bullish momentum, as RSI is at 59, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.7814(23.6% fib), any close above will push the pair towards 1.7856 (Higher BB).
• Strong support is seen at 1.7722 (5DMA) and break below could take the pair towards 1.7659 (38.2% fib )
Recommendation: Good to buy around 1.7770, with stop loss of 1.7680 and target price of 1.7850
