• EUR/NZD rose higher on Thursday as investors increasingly turned bearish on the New Zealand dollar.
• The pair reaches 1.8221 after extending north from 1.8154. 1.8221 is the highest level since June 5th.
• The pair has traded a 199 pip range thus far Thursday, 1.8022 -1.8221.Unless there is major news uptrend looks set to extend.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 72 bullish, daily momentum studies 5, 9 DMAs v trending up.
• Resistance Levels : 1.8221 (23.6% fib) , 1.8274 (May 15th high), 1.8300 (Psychological level)
• Support Levels: 1.8098 (5DMA), 1.8022 (Daily low), 1.7971( 38.2%fib)
Recommendation: Good to on dips around 1.8120, with stop loss of 1.7900 and target price of 1.8240