• EUR/NZD strengthened on Friday as the pairs bullish allure persisted across the board ahead of next weeks key data.
• November German Ifo and Euro Zone manufacturing, non- manufacturing PMIs will be key risks next week.
• A daily close above 23.6% fib resitence will further improve the technical outlook, and open the possibility of a rally towards 1.8300 level.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 56 bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.8230 (23.6% fib), any close above will push the pair towards 1.8286 (Nov 14th high).
• Strong support is seen at 1.8138(5DMA) and break below could take the pair towards 1.8086 (38.2% fib )
Recommendation: Good to buy around 1.8200, with stop loss of 1.8120 and target price of 1.8280
