• EUR/NZD rose higher on Thursday as the euro attracted buyers after data showed U.S. inflation was easing.
• EUR/NZD found buyers at 1.6952 rally lifts the pair towards 1.7020. A break and daily close above 23.6% fib will accelerate further gains.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 61 bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.7026(23.6% fib), any close above will push the pair towards 1.7052 (Higher BB).
• Strong support is seen at 1.6905 (38.2% fib) and break below could take the pair towards 1.6853(21DMA )
Recommendation: Good to buy around 1.7000, with stop loss of 1.6930 and target price of 1.7080
