The EURNZD pair recently made a new high after breaking past the 1.66950 resistance level on the daily time frame, couple with a violation of the +1/2 Daily Murrey math level a significant resistant zone.
Although, daily Stochastic indicator is in the over bought region, the Average Directional Moving Index, shows strong bullish momentum. Price action seems to support this bullish outlook as the previous day closed with a strong a strong bullish candle above the 1.66700 psychological level.
A sustained move and daily close above this level should open the path for a move to the 1.69140 region of next significant resistance.
NZD across board has been plagued by political situations in new Zealand, where there is uncertainty in the balance of power, owing to on going elections
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