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FxWirePro: EUR/NZD capped by the 38.2% fibonacci, good to sell on rally

• EUR/NZD initially dipped but recovered some ground  as  bulls manage to hold onto some gains ahead of weekend .

• Investors focus stayed on economic data for hints about interest rate direction and potential policy shifts under Donald trump's presidency.

• Investors have been worried about China's economy and a looming trade war with the U.S. ahead of Trump's presidential inauguration on Jan. 20.

• Immediate resistance is located at 1.7994(50%fib ), any close above will push the pair towards 1.8075(SMA 5).

• Strong support is seen at 1.8285(50%fib) and break below could take the pair towards 1.8178(61.8%fib).

Recommendation: Good to sell on rallies around 1.8320 with stop loss of 1.8400  and target price of 1.7200
 

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