• EUR/NZD rose higher on Thursday as optimism about COVID-19 vaccines supported euro .
• EUR/NZD hit the highest point since Nov 20th and is attempting to breach resistance at 1.7166 (21DMA). A decisive break closure above could generate further gains.
• The pair is expected to trade higher in the short-term unless and until it closes significantly below 1.6977 (61.8% fib).
• Immediate resistance is located at 1.7166 (21DMA), any close above will push the pair towards 1.7201 (38.2%fib).
• Immediate support is seen at 1.7088 (50% fib) and break below could take the pair towards 1.7040 (Dec 2nd Low).
Recommendation: Good to buy around 1.7130, with stop loss of 1.6970 and target price of 1.7210
