• EUR/NZD gave up some of earlier ground on Friday as profit taking set in after failure to close above resistance at 1.6800 (14EMA) .
• EUR/NZD dips towards 1.6742, a break and daily close above 1.6800 (14EMA) will accelerate further gains.
• Break above 1.6800 (14EMA) is likely to drive the pair towards 1.6827 61.8% fib resistance zone.
• Immediate resistance is located at 1.6769 (50%fib), any close above will push the pair towards 1.6800 (14EMA).
• Strong support is seen at 1.6716 (38.2%fib) and break below could take the pair towards 1.6645 (23.6% fib ).
Recommendation: Good to buy around 1.6730, with stop loss of 1.6670 and target price of 1.6800
