• 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
