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FxWirePro: EUR/NZD remains bullish as rally continues

• EUR/NZD rose sharply on Tuesday  as an improving Eurozone economic outlook lifted euro against kiwi dollar.

•Data   showed S&P Global's flash Composite Purchasing Managers' Index (PMI), seen as a good gauge of the bloc's overall economic health climbed to a nine-month high of 52.3 in February  .

• The pair is currently approaching resistance at 38.2%fib. A break and daily close above will accelerate further gains towards 1.6700 level.

• Technical signals show the pair could gain more ground in the short-term as RSI is at 60 bullish, daily momentum studies  5, 9 and 11 DMAs are trending  up.

• Immediate resistance is located at 1.7151 (23.6%fib), any close above will push the pair towards 1.7180(Higher BB).

• Strong support is seen at 1.7104(5DMA) and break below could take the pair towards 1.7043 (38.2% fib )

Recommendation: Good to buy around 1.7100 with stop loss of 1.7080 and target price of 1.7180

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