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FxWirePro :EUR/NZD extends gains,faces 23.6% fib resistance

• EUR/NZD strengthened on Monday as prospects of   rate hikes by ECB   boosted euro against kiwi dollar .

• Chief Economist Philip Lane indicated more rate hikes from the ECB in coming months even amid signs of easing price pressures.

• EUR/NZD  is now on course to register   close above the 1.7266 (23.6% fib), 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 1.7266 (23.6% fib),any close above will push the pair towards 1.7295(Higher BB ).

• Immediate support is seen at 1.7103  (9DMA) and break below could take the pair towards 1.7000 (Psychological level )

Recommendation: Good to buy 1.7210, with stop loss of 1.7150 and target price of 1.7300

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