• EUR/NZD sailed up through 1.6900 on Thursday as kiwi dollar attracted sellers after New Zealand PM Jacinda Ardern announced resignation.
• New Zealand Prime Minister Jacinda Ardern on Thursday made a surprise announcement that she would step down no later than early February and not seek re-election.
• The pairs rise above the 1.6859 (50% fib) has reinforced the growing bullish structure, putting focus on resistance at 1.7059(Higher BB ).
• Technical signals show the pair could gain more ground as RSI is at 56 with 5, 10 and 21-day MAs in bullish alignment.
• Immediate resistance is located at 1.6992 (38.2% fib), any close above will push the pair towards 1.7059(Higher BB ).
• Immediate support is seen at 1.6859 (50% fib) and break below could take the pair towards 1.6807 (30DMA).
Recommendation: Good to buy around 1.6930, with stop loss of 1.6830 and target price of 1.7000
