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FxWirePro:EUR/NZD rebounds, critical resistance lies ahead

• EUR/NZD rebounded  sharply  on Thursday  pair found solid support at 1.7482  level.

• A rally towards bigger resistance in the 1.7821 zone is possible should EUR/NZD bulls overcome resistance at 38.2% fib.

• Technicals are favouring bullish sentiment as RSI is at 51 and the pair is trading below  5, 9 & 11-DMAs.

• Immediate resistance is located at 1.7691(38.2% fib), any close above will push the pair towards 1.7821 (23.6% fib)

• Support is seen at 1.77593(50% fib) and break below could take the pair towards 1.7482  (61.8% fib).

Recommendation: Good to buy  around 1.7670, with stop loss of 1.7600 and target price of 1.7760

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