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FxWirePro: EUR/NZD rallies to 3-week high, good to buy on dips

• EUR/NZD rose higher on Tuesday   as the euro attracted buyers  after the Bank of Japan (BoJ) unexpectedly tweaked a key policy.

•The BoJ surprised global investors by tweaking its bond yield control policy on Tuesday.

• EUR/NZD    found buyers at 1.6651 rally lifts the pair towards 1.6819. 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 56 bullish, daily momentum studies  5, 9 and 11 DMAs are trending  up.

• Immediate resistance is located at 1.6827(23.6% fib), any close above will push the pair towards 1.6888 (Higher BB).

• Strong support is seen at 1.6679 (30 DMA) and break below could take the pair towards 1.6634(38.2% fib )

Recommendation: Good to buy around 1.6770, with stop loss of 1.6700 and target price of 1.6830

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