• EUR/NZD rose higher on Friday as broad based New Zealand dollar selling drove EUR/NZD sharply higher.
• EUR/NZD gains near 23.6%fib,consolidation likely to continue while market seeks fresh factors.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 69 bullish, daily momentum studies 5, 10 and 21 DMAs are trending up.
• Immediate resistance is located at 1.7920(23.6%fib% fib), any close above will push the pair towards 1.8000 (Psychological level).
• Strong support is seen at 1.7741(38.2% fib) and break below could take the pair towards 1.7641 (11DMA )
Recommendation: Good to buy around 1.6380 , with stop loss of 1.6300 and target price of 1.6470
