• EUR/NZD strengthened on Tuesday as the euro's was boosted after Ukrainian and Russian negotiators announced progress in their peace talks.
• Russia has promised to scale back its military operations around Kyiv and northern Ukraine .
•While Ukraine has proposed adopting neutral status with international guarantees to protect itself from attacks.
• EUR/NZD rally lifts the pair above 1.6000. A break and daily close above 1.6021 will accelerate further gains.
• Immediate resistance is located at 1.6021 (38.2% fib), any close above will push the pair towards 1.6627 (50%fib).
• Strong support is seen at 1.5853(5 DMA) and break below could take the pair towards 1.5765(23.6% fib ).
Recommendation: Good to buy around 1.5990, with stop loss of 1.5860 and target price of 1.6100
