• EUR/NZD strengthened after initially falling on Thursday as soured risk sentiment supported pairs recovery.
• EUR/NZD drops to hit daily low at 1.6920 but bears fails to maintain momentum despite geopolitical influences.
• EUR/NZD bulls must regain the 1.7000 Psychological level to stem the bearish tide and a rise above 38.2%fib to regain momentum.
• Immediate resistance is located at 1.7015 (38.2%fib), any close above will push the pair towards 1.7120(23.6%fib).
• Strong support is seen at 1.6950(30DMA) and break below could take the pair towards 1.6920 (50% fib ).
Recommendation: Good to buy around 1.6980 with stop loss of 1.6900 and target price of 1.7080
