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FxWirePro: EUR/NZD eyes fibo resistance after rallying off from 1.5915

• EUR/NZD rose higher on Thursday as softer than expected NZ CPI drove weighed on kiwi dollar.

•New Zealand's consumer price index (CPI) rose 1.8% in the first quarter, coming in below analyst forecasts, according to data released by Statistics New Zealand on Thursday.

• The pair is currently approaching resistance at 38.2%fib. A break and daily close above will accelerate further gains towards 1.6200 level.

• Technical signals show the pair could gain more ground in the short-term as RSI is at 54 bullish, daily momentum studies  5, 9 and 11 DMAs are trending  up.

• Immediate resistance is located at 1.6116 (38.2%fib), any close above will push the pair towards 1.6310 (50%fib).

• Strong support is seen at 1.5871 (23.6%fib) and break below could take the pair towards 1.5671 (Higher BB )

Recommendation: Good to buy around 1.6080 with stop loss of 1.5950 and target price of 1.6180

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