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FxWirePro: EUR/NZD rallies to 2-week high, good to buy on dips

• 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

 

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