• EUR/NZD eased on Friday as worries over China's economy hit investors sentiment.
• The euro zone economy, which is dependent upon China, and the euro currency are likely to remain vulnerable unless China implements concrete plans to fuel economic growth.
• Pair traded in 1.8375/1.8304 range and was last trading at 1.8338 into the US afternoon.
• Technical signals are bullish as RSI is at 68, daily momentum studies 5,9 and 10 DMAs are trending up.
• Immediate resistance is located at 1.8403( 23.6%fib), any close above will push the pair towards 1.8450 (Higher BB)
• Strong support is seen at 1.8317 (5DMA ) and break below could take the pair towards 1.8266 (38.2%fib).
Recommendation: Good to buy around 1.8310, with stop loss of 1.8200 and target price of 1.8400.
