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FxWirePro: EUR/NZD remains weak, eyes 38.2%fib support

• EUR/NZD retreated   on Friday as currencies early gains evaporated  in thin holiday market.

• Price slides to 1.6694 from 1.6606 Daily  high. The pair has seen   88 pip  range, on Friday

• EUR/NZD is now on course to register a   close below the 38.2%fib level, chart points to bigger drop towards  1.6500 level.  .

• Immediate resistance is located at 1.6685(5DMA), any close above will push the pair towards 1.6745 (50%fib).

• Strong support is seen at 1.6572(38.2%fib) and break below could take the pair towards 1.6382 (23.6%fib).

Recommendation: Good to sell  around 1.6610 with stop loss of 1.6710 and target price of 1.6530


 

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