FxWirePro: EUR/NZD consolidating around 1.6790, bias is bullish

• EUR/NZD initially dipped on Thursday but recovered ground  as ECB fragmentation plan helped buoy the euro.

• The is pair heading towards the 23.6%fib, as near term direction of the pair is likely to be driven by current price action.  

• Pair traded in 1.6667/1.6847  range and was last trading at 1.6792 into the US afternoon. 

• Technical signals are bullish as RSI is at 60, daily momentum studies  9,11 and 14 DMAs are trending up. 

•  Immediate resistance is located at 1.6684( Higher BB), any close above will push the pair towards 1.6921(23.6%fib).

• Strong  support is seen at 1.1679 (38.2%fib ) and break below could take the pair towards 1.6667 (21DMA).

Recommendation: Good to buy  around 1.6770, with stop loss of 1.6680 and target price of 1.6850.