FxWirePro: EUR/NZD EUR/NZD eases as investors digest Eurozone data

• EUR/NZD eased on Wednesday  as investors assessed Euro zone  economic  data and  digested the beginning of a U.S. government shutdown..

• The U.S. government shut down most of its operations on Wednesday, likely delaying Friday’s September employment report. 

• The lack of economic data is likely to boost market volatility and hinder the Fed’s near-term assessment of the economy.

•  Eurozone factory activity returned to contraction in September as new orders fell at the sharpest pace in six months, highlighting fragile industrial recovery

•The HCOB Eurozone Manufacturing PMI dropped to 49.8 in September from 50.7 in August, slipping back below the 50 threshold that marks growth.

•  Immediate resistance is located at 2.0333( 23.6%fib), any close above will push the pair towards 2.0429 (Higher BB)

• Strong  support is seen at 2.0167 (Daily low ) and break below could take the pair towards 2.0000 (Psychological level).

Recommendation: Good  to sell around 2.0180, with stop loss of 2.0250 and target price of 2.0100