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FxWirePro: EUR/NZD eyes key fibo resistance after rallying off from 1.7140

• EUR/NZD strengthened on Friday as hawkish shift from the European Central Bank continued to boosted euro.

• The pair is currently approaching resistance at 38.2%fib. A break and daily close above will accelerate further gains towards 1.7400 level.

• Technical signals show the pair could gain more ground in the short-term as RSI is at 79 bullish, daily momentum studies  5, 9 and 11 DMAs are trending  up. 

• Immediate resistance is located at 1.7338(38.2%fib), any close above will push the pair towards 1.7404 (23.6%fib).

• Strong support is seen at 1.7286(50%fib) and break below could take the pair towards 1.7241 (61.8% fib ).

Recommendation: Good to buy around 1.7300 with stop loss of 1.7210 and target price of1.7400

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