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FxWirePro: EUR/NZD downtrend loses steam but outlook still bearish

• EUR/NZD dipped d on Friday  as investors fretted over a worsening outlook for the Eurozone economy.

•   At GMT 17:54, the pair was trading 0.15% lower at 1.8173, Lowest since 5th September.

• A close below 38.2% fib  (1.8140) support puts  Lower Bollinger band  in focus.

• Technicals   highlight dowside risks. The 5, 9 and 11  day moving averages are trending south, daily RSI is pointing downwards.

• Immediate resistance is located at 1.8210(5DMA), any close above will push the pair towards 1.8292(23.6%fib).

• Strong support is seen at 1.8140(38.2% fib) and break below could take the pair towards 1.8079(Lower BB )

Recommendation: Good to sell  around 1.8200, with stop loss of 1.8280 and target price of 1.8100

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