FxWirePro: EUR/NZD loses momentum but outlook is bullish

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• EUR/NZD dipped on Wednesday as kiwi dollar rose after its central bank delivered a hawkish rate rise.

•The euro erased Tuesday’s gains against the kiwi dollar , the pair was last up at 0.03% at 1.7050

• EUR/NZD uptrend is intact above 1.7000 level , momentum remains positive.

• A rally towards is 1.7150 is possible if EUR/NZD bulls overcome resistance at 1.7082(5DMA)

• Immediate resistance is located at 1.7082(5DMA), any close above will push the pair towards 1.7153 (23.6% fib).

• Strong support is seen at 1.7021(38.2% fib) and break below could take the pair towards 1.6965 (Feb 16th low )

Recommendation: Good to buy around 1.7010 with stop loss of 1.6960 and target price of 1.7110

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