• EUR/NZD after initially gaining on Thursday the pair retreated towards 1.6900 as investors digested geopolitical developments.
• In an up-and-down session, the pair hit high at 1.7020 in early trading then retreated towards 1.6900.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 64 bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.6950 (38.2%fib), any close above will push the pair towards 1.6989 (21DMA).
• Strong support is seen at 1.6793(50%fib) and break below could take the pair towards 1.6793 (61.8%fib )
Recommendation: Good to buy around 1.6880 with stop loss of 1.6800 and target price of 1.6960