FxWirePro: EUR/NZD uptrend looks tired, but continues to hold

• EUR/NZD strengthened on Monday as weaker kiwi dollar benefited bulls, but  the gains were  capped   ahead of  a week full of central bank meetings.

• The is pair heading towards the 38.2%fib, as near term direction of the pair is likely to be driven by current price action.  

• Pair traded in   1.6619/1.6729  range and was last trading at 1.6690 into the US afternoon. 

• Technical signals are bullish as RSI is at 62, daily momentum studies  5,9 and 10 DMAs are trending up. 

•  Immediate resistance is located at 1.6720( 38.2%fib), any close above will push the pair towards 1.6774(3rd Dec high).

• Strong  support is seen at 1.5556 (5DMA ) and break below could take the pair towards 1.6625  (50%fib).

Recommendation: Good to buy  around 1.6680, with stop loss of 1.6600 and target price of 1.6770.