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FxWirePro :EUR/NZD rises to its highest level since June 1st

• EUR/NZD rose higher on Thursday as euro continued to receive warm welcome from market on EU's mutualized relief plan.

• EUR/NZD bulls have to contend with strong resistance at 1.7818 (100 DMA). If EUR/NZD longs overcome that level, tests of 1.7900 resistance is likely. 

• Technical signals show the pair could gain more ground in the short-term as RSI is at 66 bullish, daily momentum studies  5, 9   DMAs are trending up. 

•Resistance Levels :  1.7775 (50%fib) , 1.7818 (100 DMA), 1.7900 (Psychological level) .
      
• Support Levels: 1.7657 (Daily low), 1.7628 (5DMA), 1.7500 ( 61.8%fib).

Recommendation: Good to buy on dips around 1.7710, with stop loss of 1.7600 and target price of 1.7820
 

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