• EUR/NZD rose higher on Friday on as broad based New Zealand dollar selling drove EUR/NZD higher.
•The pair reaches 1.7850 after extending north from 1.7753(Daily low). 1.7850 is the highest level since September 25th high.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 52 bullish, daily momentum studies 5, 10 and 21 DMAs are trending up.
• Immediate resistance is located at 1.7886(38.2% fib), any close above will push the pair towards 1.7954(23.6% fib).
• Strong support is seen at 1.7796 (50% fib) and break below could take the pair towards 1.7712 (61.8% fib )
Recommendation: Good to buy around 1.7800, with stop loss of 1.7720 and target price of 1.7900
