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FxWirePro: EUR/NZD up trend gains momentum, as positive sentiment builds

• EUR/NZD steadied on Wednesday as optimism over peace talks between Russia and Ukraine boosted euro.

• The moves came as  Russia's promised during peace talks on Tuesday to reduce its attack on Kyiv.

• The pair is currently approaching resistance at 1.6011 ( 14DMA). Break above is likely push the pair towards 1.6200 level.

• Technical signals are turning bullish as RSI is turning higher at 40, daily momentum studies  5, 9 and 10 DMAs are trending up.

•   Immediate resistance is located at 1.6020 ( 38.2%fib), any close above will push the pair towards 1.6218 ( 50%fib)

•  Strong support is seen at 1.5948 (5 DMA ) and break below could take the pair towards 1.5764  (23.6%  fib).

  Recommendation: Good to buy around 1.5980, with stop loss of 1.5880 and target price of 1.6100.

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