NAB FX Technical Strategy Research notes that EUR/NZD completed a most bullish set up at the end of March and confirmed this setup into the end of April.
On a weekly basis, NAB notes that EUR/NZD also confirmed a bullish setup with the weekly close above the 50-week MA at 1.5345.
"This 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+," NAB projects.
EUR/NZD is trading circa 1.5860 as of writing.
Source: NAB ResearchOriginal Article
