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FxWirePro: EUR/NZD steadies around 1.8500, retains bid tone

• EUR/NZD initially gained but gave up some ground on Friday  as market participants awaited fresh catalyst for further movement.

• EUR/NZD remains relatively bullish, having recent downside attempts short-lived so far.

• EUR/NZD traded within a 154-pip range of 1.8551-1.8397 on Friday, with calm market conditions ahead of the year-end.

• Technical signals are bullish  as RSI is at 71, daily momentum studies  5 and 9 DMAs are trending up. 

• Immediate resistance is located at 1.8551 (38.2%fib), any close above will push the pair towards 1.8628 (Higher BB)

• Support is seen at 1.8395(38.2%fib ) and break below could take the pair towards 1.8275 (50%fib).

Recommendation: Good   buy  around 1.8500 with stop loss of 1.8450 and target price of 1.8580
 

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