• EUR/NZD climbed on Tuesday as the euro was aided Germany's election result and growing speculation about a potential peace deal in Ukraine.
• Friedrich Merz is poised to become Germany's next chancellor after his conservative opposition party secured victory in the national election on Sunday.
• German coalition talks kick off as EU leaders gear up for an extraordinary summit on March 6 to discuss additional support for Ukraine and funding for European defense initiatives.
• Technical are bullish, daily RSI is positive at 54, daily momentum studies 11 and 14 DMAs are trending up.
• Immediate resistance is located at 1.8456 (23.6% fib), any close above will push the pair towards 1.8492(Higher BB).
• Strong support is seen at 1.8283(38.2%fib) and break below could take the pair towards 1.8158 (Lower BB).
Recommendation: Good to buy around 1.6350, with stop loss of 1.6280and target price of 1.6410
