• EUR/NZD initially dipped on Thursday but recovered ground as bears couldn't sustain lower move as dip buyers emerged.
• In an up-and-down session, the pair hit low at 1.7990 in early trading then gained towards 1.8025.
• A rally towards 1.8100 is possible if EUR/NZD bulls overcome resistance at 1.8059 (23.6%fib).
• Immediate resistance is located at 1.8059(23.6%fib), any close above will push the pair towards 1.8111(April 17th high).
• Immediate support is seen at 1.7999 (SMA 5) and break below could take the pair towards 1.7953 (38.2%fib).
Recommendation: Good to buy round 1.8000, with stop loss of 1.7900 and target price of 1.8100
