• EUR/NZD initially gained on Friday but ran out of steam after mixed German economic data .
• EUR/NZD hold above 38.2% fib support suggests it will continue to consolidate gains from todays daily low.
• At GMT 17:06, the pair was trading up 0.62 percent at 1.6896 after reaching daily high at 1.6955.
• Immediate resistance is located at 1.6964 (23.6%fib), any close above will push the pair towards 1.7000(Psychological level).
• Immediate support is seen at 1.6870 (38.2%fib) and break below could take the pair towards 1.6843 (5DMA).
Recommendation: Good to buy around 1.6880, with stop loss of 1.6800 and target price of 1.6950
