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FxWirePro : EUR /NZD extends gains, faces 38.2% fib resistance

• EUR/NZD  strengthened on Friday as hawkish ECB comments lifted euro against weaker Aussie dollar  .

• European Central Bank interest rates still have some way to rise, two influential policymakers said on Friday.

• EUR/NZD  is now on course to register   close above the 1.7171 (38.2% fib0, break above will  likely see a much bigger rise.

• Technical signals show the pair could lose more ground in the short-term as RSI is at 61 bullish, daily momentum studies 5, 10 and 21 DMAs are trending  up.

• Immediate resistance is located at 1.7171 (38.2% fib),any close above will push the pair towards 1.7289(23.6 % fib ).

• Immediate support is seen at 1.7082 (50% fib) and break below could take the pair towards 1.7049 (Daily low )

Recommendation: Good to buy 1.7110, with stop loss of 1.7050 and target price of 1.7200

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