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• EUR/ NZD gained on Tuesday as riskier currencies like kiwi dollar weakened on concerns over rising COVID-19 cases in Australia.
• Bulls have tightened their grip after registering a close above the 1.6968 (32.8%fib),scope grows for bigger gains above 1.7000.
• Technical signals are strongly bullish as RSI is bullish at 56, 5, 9,11 DMAs are trending up.
• Immediate resistance is located at 1.7048 (23.6%fib), any close above will push the pair towards 1.7082 (Higher BB).
• Immediate support is seen at 1.6968 (32.8%fib) and break below could take the pair towards 1.6942 (21DMA).
Recommendation: Good buy around 1.6990, with stop loss of 1.6900 and target price of 1.7070
