• EUR/NZD rose past 1.8000 level on Friday as kiwi dollar weakened further against euro on country's negative growth trajectory .
• Official data out on Thursday showed gross domestic product (GDP) fell 0.1% in the December quarter, worse than analysts' forecast of a 0.1% increase.
• EUR/ NZD rally lifts the pair above 1.8000 level. A break and daily close above 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 70 bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.8049(23.6%fib), any close above will push the pair towards 1.8109 (Nov 22nd 2023 high).
• Strong support is seen at 1.7959 (Daily low) and break below could take the pair towards 1.7924(38.2%fib )
Recommendation: Good to buy around 1.8010, with stop loss of 1.7900 and target price of 1.8100
