FxWirePro: EUR/NZD extends gains, faces 23.6% fib resistance

• EUR/NZD strengthened  on Monday as euro continued strengthen on Germany's major fiscal reforms improved the European growth outlook.

• On the data front,German industrial output rose in January but exports plunged, showing the challenges facing the incoming government in reviving the euro zone's largest economy in a time of geopolitical uncertainty.

• German exports fell by 2.5% in January compared with the previous month, data from the federal statistics office showed on Monday.  
•Imports rose by 1.2% in January compared with the previous month, the data showed..

• Technical signals show the pair could gain more ground in the short-term as RSI is at 80 bullish, daily momentum studies  5, 9 and 11 DMAs are trending  up.

• Immediate resistance is located at 1.9075 (23.6%fib), any close above will push the pair towards 1.9182(Higher BB).

• Strong support is seen at 1.8911(38.2%fib) and break below could take the pair towards 1.8754(50% fib )

Recommendation: Good to buy around 1.9000, with stop loss of 1.8940 and target price of 1.9100