NAB FX Technical Strategy Research maintains its bullish stance on EUR/NZD after the pair completed a most bullish set up at the end of March upon the month end close above 1.5151.
Such a bullish signal, according to NAB, was accompanied by significant bullish triggers in MT/LT momentum indicators.
“A multi-month uptrend is now a high probability outcome, targeting 1.63+ with potential to achieve 1.70+. A ST correction towards 1.55/1.56 is seen as a buying opportunity,” NAB projects.
EUR/NZD is trading circa 1.5850 as of writing.
Source: NAB Research
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