• EUR/NZD after initially falling on Tuesday the pair recovered some ground as the pair was supported by the pullback in Treasury yields and weaker kiwi dollar.
• In an up-and-down session, the pair hit low at 1.7281 in early trading then recovered towards 1.7373.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 64 bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.7493 (23.6%fib), any close above will push the pair towards 1.7585 (Higher BB).
• Strong support is seen at 1.7346(9DMA) and break below could take the pair towards 1.7316 (38.2%fib )
Recommendation: Good to buy around 1.7360 with stop loss of 1.7280 and target price of 1.7500
