FxWirePro:EUR/NZD reclaims 1.6600 handle ,outlook bullish
• EUR/NZD sailed up through 1.6600 on Friday as a recent rout in global bond markets spooked sellers.
• EUR/NZD’s rise has cleared 1.6519(5DMA), longs' confidence is bolstered as bullish signals are increasing.
• Charts show the pair could gain more ground as RSI is at 59 with 5, 10 and 11-day MAs in bullish alignment.
• Immediate resistance is located at 1.6707(50%fib), any close above will push the pair towards 1.6808(38.2% fib ).
• Immediate support is seen at 1.6615(61.8% fib) and break below could take the pair towards 1.6468 (78.6%fib).
Recommendation: Good to buy around 1.6610, with stop loss of 1.6530 and target price of 1.6680