• EUR/NZD strengthened on Friday as euro benefited from strongly weaker New Zealand dollar.
•EUR/NZD has seen a 1.7843 -1.8006 range on Friday. Consolidation towards 1.8100 level likely to continue.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 58 bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.8006(June 28th high), any close above will push the pair towards 1.8069 (23.6%fib).
• Strong support is seen at 1.7892(38.2% fib) and break below could take the pair towards 1.7788 (9DMA )
Recommendation: Good to buy around 1.7970 with stop loss of 1.7900 and target price of 1.8100
