FxWirePro:EUR/NZD extends gains, faces 50% fib resistance

• EUR/NZD rose higher on Friday as a surprise interest payment from debt-ridden China Evergrande Group supported the pair.

• EUR/NZD   lifts further above 1.6266 (38.2% Fib). A test of (50% fib)1.6358 resistance zone cannot be ruled out.

• EUR/NZD   bulls must regain above 38.2% fib to stem the bearish tide and a rise above the 50% fib  to regain momentum

• Strong resistance is located at 1.6358 (50%fib) any close above will push the pair towards 1.6380 (9DMA).

• Strong support is seen at 1.6193 (Daily low) and break below could take the pair towards 1.6152 (23.6% fib )

Recommendation: Good to buy around 1.6270, with stop loss of 1.6150 and target price of 1.6350