FxWirePro: EUR/NZD rebounds, critical resistance lies ahead

• EUR/NZD  climbed on Tuesday as the euro was aided Germany's election result  and growing speculation about a potential peace deal in Ukraine.

• Friedrich Merz is poised to become Germany's next chancellor after his conservative opposition party secured victory in the national election on Sunday.

• German coalition talks kick off as EU leaders gear up for an extraordinary summit on March 6 to discuss additional support for Ukraine and funding for European defense initiatives.

• Technical are bullish, daily RSI is positive at 54, daily momentum studies  11 and 14 DMAs are trending up. 

• Immediate resistance is located at 1.8456 (23.6% fib), any close above will push the pair towards 1.8492(Higher BB).

• Strong support is seen at 1.8283(38.2%fib) and break below could take the pair towards 1.8158 (Lower BB).

Recommendation: Good to buy   around 1.6350, with stop loss of 1.6280and target price of 1.6410