• EUR/NZD dipped on Friday as a slew of mixed Eurozone economic data kept bearish pressure on euro.
• German Gross domestic product slid 0.3 percent sequentially after stagnating in the third quarter, according to revised data from Destatis
• In February, the headline German IFO business climate index rose to 85.5 from January's reading of 85.2.
• EUR/NZD dipped to hit daily low at 1.7448 . Sustained break below 23.6 % fib support will push the pair towards 1.7350 level
• Strong resistance is located at 1.7511 (Daily high), any close above will push the pair towards 1.7559(38.2 % fib).
• Strong support is seen at 1.7349(23.6 % fib) and break below could take the pair towards 1.7387 (Lower BB).
Recommendation: Good to sell around 1.7450 , with stop loss of 1.7570 and target price of 1.7380
