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FxWirePro: EUR /NZD steadies above 1.7000, outlook bullish

• EUR /NZD strengthened on Wednesday  as less hawkish than feared comments seen from U.S. Federal Reserve Chair Jerome Powell  boosted the pair.

• The euro jumped 0.35% against kiwi dollar ,  rise above the 1.7000(Psychological level)  has reinforced the growing bullish strength.

• Technical signals show the pair could gain more ground in the short-term as RSI is at 57,while moving averages are trending higher. 
 
• Immediate resistance is located at 1.7023(Daily high), any close above will push the pair towards 1.7081(23.6% fib).

• Immediate support is seen at 1.6968(5DMA)and break below could take the pair towards 1.6932 (38.2% fib).

Recommendation: Good to buy on dips around 1.6980, with stop loss of 1.6900 and target price of 1.7070.
 

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