• EUR/NZD rebounded from an earlier decline on Friday as the euro regained its recent losses due to short-covering
• The euro has eased earlier on Friday after U.S. President-elect Donald Trump urged the EU to purchase U.S. oil and gas to reduce its trade deficit or face tariffs.
• On the data front, U.S. consumer spending increased in November, underscoring the economy's resilience.
• From a technical viewpoint, RSI is bullish at 63, daily momentum studies, 5, 10 and 11 daily MAs are pointing up .
• Immediate resistance is located at 1.8483(23.6%fib), any close above will push the pair towards 1.8526 (Higher BB).
• Immediate support is seen at 1.8344(38.2%fib) and break below could take the pair towards 1.8252(50%fib).
Recommendation: Good to buy around 1.8400, with stop loss of 1.8250 and target price of 1.8500
