• EUR/NZD declined on Wednesday as investors squared position ahead Fed announcement .
• EUR/NZD failed to close below key support, the pair inability to close below 50%fib, should encourage bulls to rebound.
• Technical signals show the pair could gain more ground in the short-term as RSI is bullish at 57, daily momentum studies 5 and 9 DMAs are trending up.
• Immediate resistance is located at 1.6988 (38.2%fib), any close above will push the pair towards 1.7033 (Daily high).
• Strong support is seen 1.6967 (5DMA) and break below could take the pair towards 1.6920 (50%Fib)
Recommendation: Good to buy around 1.6970, with stop loss of 1.6900 and target price of 1.7050
