• EUR/NZD initially gained on Tuesday but gave up ground as investors awaited ECB meeting on Thursday.
• Traders are now awaiting Thursday's ECB meeting, to see if ECB hike pricing narrows further in support of euro.
• Technical signals indicate bullish movementum, as RSI is at 54, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.7286 (30DMA), any close above will push the pair towards 1.7344 (23.6%fib).
• Strong support is seen at 1.6427 (38.2% fib) and break below could take the pair towards 1.6376 (Lower BB ).
Recommendation: Good to buy around 1.6480, with stop loss of 1.6380 and target price of 1.6590
