• EUR/NZD strengthened on Friday as euro was boosted upbeat Eurozone GDP data and Germany's game-changing fiscal reforms.
•The eurozone's GDP grew by 0.2% in Q4 2024, exceeding the earlier 0.1% estimate, though most individual country figures remained unchanged from preliminary data.
•Germany's proposal for a €500 billion ($543 billion) infrastructure fund and revised borrowing rules fueled expectations of increased bond supply, triggering a global debt sell-off.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 78 bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.9066 (23.6%fib), any close above will push the pair towards 1.9131(Higher BB).
• Strong support is seen at 1.8815(38.2%fib) and break below could take the pair towards 1.8629(50% fib )
Recommendation: Good to buy around 1.8960, with stop loss of 1.8880 and target price of 1.9100
