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FxWirePro: EUR /NZD consolidating around 1.6970,bias is bullish

• EUR /NZD strengthened on Thursday as the pair was supported by  hawkish tones from the Swedish Riksbank and comments from BoE policymakers.

• The euro   erased earlier losses against the kiwi dollar , the pair was last up  at 0.06% at  1.6974 .

• Technical signals show the pair could gain more ground in the short-term as RSI is at 56,while moving averages are trending higher. 
 
• Immediate resistance is located at 1.7000(Psychological level), any close above will push the pair towards 1.7070(23.6% fib).

• Immediate support is seen at 1.6958 (38.2% fib)and break below could take the pair towards 1.6909(11DMA).

Recommendation: Good to buy on dips around 1.6970, with stop loss of 1.6900 and target price of 1.7070.
 

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