• EUR/NZD recovered some ground as euro gained amid short-covering as investor attention shifted to the Eurozone's October PMI report next week.
• Pair traded in 1.7848/1.7913 on Friday range and was last trading last at 1.7897.
• Technical signals are bullish as RSI is at 51, daily momentum studies 5,9 and 11 DMAs are trending up
• Immediate resistance is located at 1.7920 ( 38.2%fib), any close above will push the pair towards 1.8020 (23.6%fib)
• Strong support is seen at 1.7845 (50% fib ) and break below could take the pair towards 1.7804(21SMA).
Recommendation: Good to buy around 1.7880, with stop loss of 1.7800 and target price of 1.7960
