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FxWirePro: EUR/NZD regains upward momentum after early fall, good to buy on dips

• EUR/NZD initially decline on Thursday but recovered most of the ground as the pairs bullish  allure persisted across the board post hawkish Fed statement.

• EUR/NZD  initially dipped but found buyers at 1.6894, recovery lifts the pair above psychological level (1.7000) level. A break and daily close above 1.7065 (23.6%fib) will accelerate further gains.

• Technical signals show the pair could gain more ground in the short-term as RSI is at 58bullish, daily momentum studies  5, 9 and 11 DMAs are trending  up.

• Immediate resistance is located at 1.7065 (23.6%fib), any close above will push the pair towards 1.7113(Higher BB).

• Strong support is seen at 1.6990 (38.2% DMA) and break below could take the pair towards 1.6920(50% fib )

Recommendation: Good to buy around 1.6980, with stop loss of 1.6900 and target price of 1.7100

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