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FxWirePro:EUR/NZD positions for another climb, eyes 1.8200 level

• EUR/NZD strengthened on Thursday   as   New Zealand dollars was   burdened by global risk aversion on growing tensions in the Middle East.

• The kiwi has been struggling since a surprisingly low reading of domestic inflation lessened the chance of another hike in interest rates.

• Technical signals are bullish as RSI is at 63, daily momentum studies  5, 9 and 10 DMAs are trending up.

• Immediate resistance is located at 1.8140(Daily high), any close above will push the pair towards 1.8171(23.6%fib).

• Strong support is seen at 1.8041 (38.2%fib) and break below could take the pair towards 1.7987  (5DMA).

Recommendation: Good to buy around 1.8100 with stop loss of 1.8000 and target price of 1.8200

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