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FxWirePro: EUR /NZD indecision within ranges, watch for the breakout

• EUR /NZD  initially dipped  on Friday but recovered some ground  investors squared position   ahead weekend . 

• EUR /NZD  was last  trading at 1.7696.  The pair   staged recovery  after meeting support  at this level 1.7622 (61.8% fib). 

• On the data front, Eurozone’s gross domestic product (GDP) growth was flat in the fourth quarter of 2023, according to Eurostat, the EU's statistical office, on Friday.

• Immediate resistance is located at 1.7752 (38.2% fib), any close above will push the pair towards 1.7833 (23.6% fib).

• Immediate support is seen at 1.7689 (50% fib) and break below could take the pair towards 1.7622 (61.8% fib).

Recommendation: Be on sidelines
 

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