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• EUR/NZD rose higher to hit two month high on Thursday on as broad based New Zealand dollar selling drove EUR/NZD sharply higher.
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• EUR/NZD rose above 1.6750 level . A break and daily close above 1.6800 (23.6%fib) resistence will accelerate further gains.
•Technical signals show the pair could gain more ground in the short-term as RSI is at 69 bullish, daily momentum studies 5, 10 and 21 DMAs are trending up.
• Immediate resistance is located at 1.6800 (23.6% fib), any close above will push the pair towards 1.6870 (Higher BB).
•Strong support is seen at 1.6649 (5DMA) and break below could take the pair towards 1.6628 (38.2% fib ).
Recommendation: Good to buy around 1.6750, with stop loss of 1.6680 and target price of 1.6850
