FxWirePro:EUR/NZD reclaims 1.8000 handle ,outlook bullish

• EUR/NZD goes positive on day, but 55 DMA (1.8121) halts sharp gains.

• The pair has pierced 23.6% fibo at 1.7962 on Wednesday and closed above   it. The pair must close above 55 DMA at 1.8121 to target the 50% fib .

• Any downside correction is likely to be temporary as barrier at 1.7823 (5 DMA) is set to restricting lower move.

• Technical signals show the pair could gain as RSI is at 52 bullish, and 5 and 11 DMA’s are  turning up. 

• Immediate resistance is located at 1.8121 (55 DMA), any close above will push the pair towards 1.8346 (38.2 fib ).

• Immediate support is seen at 1.7974 (23.6% fib) and break below could take the pair towards 1.7823 (5 DMA).

Recommendation: Good to buy around 1.8000, with stop loss of 1.7810 and target price of 1.8350