• EUR/NZD sailed up through 1.6900 on Tuesday as kiwi fell sharply across the board after New Zealand government placed tax on property investors.
•Pair climbs above the 38.2%fib, very little pull back seen, pair sits near day's high in the US session.
• The pairs rise above the 1.6872 (38.2% fib) has reinforced the growing bullish structure, putting focus on 1.7000 (Psychological level).
• Technical signals show the pair could gain more ground as RSI is strongly bullish at 64 with 5, 10 and 21-day MAs in bullish alignment.
• Immediate resistance is located at 1.6934 (100DMA), any close above will push the pair towards 1.7000 (23.6% fib ).
• Immediate support is seen at 1.6872 (38.2% fib) and break below could take the pair towards 1.6766 (50%fib).
Recommendation: Good to buy around 1.6860, with stop loss of 1.6700 and target price of 1.7000
