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FxWirePro: EUR/NZD stuck in range but maintains bullish bias

• EUR/NZD steadied  on Thursday    as  ECB rhetoric on rate hike supported  EUR/NZD.

• EUR/NZD  initially dipped but found buyers at 1.7313, rally lifts the pair towards 1.7338. A break and daily close above 1.7343(38.2%fib) will accelerate further gains.

• Technical signals show the pair could gain more ground in the short-term as RSI is at 58 bullish, daily momentum studies  5, 9 and 11 DMAs are trending  up 1.7470.

• Immediate resistance is located at 1.7343(38.2%fib), any close above will push the pair towards 1.7456 (23.6%fib).

• Strong support is seen at 1.7242 (50% fib) and break below could take the pair towards 1.7202(21DMA )

Recommendation: Good to buy around 1.7310, with stop loss of 1.7190 and target price of 1.7400

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