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FxWirePro :EUR/NZD consolidating around 1.7420, bias is bullish

• EUR/NZD strengthened on Wednesday  as ebbing  banking woes,   risk-on vibe and weaker dollar drove EUR/NZD   higher.

•The pair reaches 1.7439 after recovering from 1.7296.Consolidation likely to continue while market seeks fresh factors.

• Technical signals show the pair could gain more ground in the short-term as RSI is at 60  bullish, daily momentum studies  5, 10 and 14 DMAs are trending  up.

•  Immediate resistance is located at 1.7445 (Daily high), any close above will push the pair towards 1.7519(23.6% fib).

• Strong support is seen at 1.7386 (5DMA) and break below could take the pair towards 1.7274 (38.2% fib )

Recommendation: Good to buy around 1.7400  , with stop loss of 1.7320  and target price of 1.7480

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