• EUR/NZD strengthened on Friday as the pairs bullish allure persisted across the board in the absence of high-impact data releases.
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•EUR/NZD has seen a 1.8077 -1.8202 range on Friday. Consolidation likely to continue while market seeks fresh factors.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 65 bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.7794(23.6%fib), any close above will push the pair towards 1.7831 (July 12th high).
• Strong support is seen at 1.8081(38.2%fib) and break below could take the pair towards 1.7999(5DMA ).
Recommendation: Good to buy around 1.8160 with stop loss of 1.8050 and target price of 1.8200
