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FxWirePro:EUR/NZD attracts buying interest, 38.2% fibonacci eyed

• EUR/NZD rose higher on Tuesday as optimism surrounding Ukraine-Russia talks   helped the euro gain against kiwi dollar

• The current upside pressure is deemed intact as long as the pair does not move below 38.2% fib support 1.6124 (5DMA).

• Technical signals show the pair could gain more ground in the short-term as RSI is at 62 bullish, daily momentum studies  5, 10 and 21 DMAs are trending  up.

  Immediate resistance is located at 1.8217 (38.2% fib), any close above will push the pair towards 1.8303 (23.6% fib).

Strong support is seen at 1.6159 (50% fib) and break below could take the pair towards 1.5977 (61.8% fib )

Recommendation: Good to buy around 1.6190, with stop loss of 1.6050  and target price of 1.6250

 

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