• EUR/NZD declined on Monday as euro was weighed down by concerns about stagnant euro zone growth and a possible government collapse in France.
•France's far-right leader, Marine Le Pen, announced that her National Rally party would support all no-confidence motions after Prime Minister Michel Barnier indicated he would push a social security bill through Parliament without a vote..
• Eurozone Manufacturing Activity Declines Sharply in November, Dashing Hopes for Quick Recovery; Italy Car Sales Drop 10.82% Year-on-Year.
•Technical highlight downside risks for EUR/NZD , with 5, 10 and 21 SMAs tracking south.
• Immediate resistance is located at 1.7879(50%fib), any close above will push the pair towards 1.7906(SMA9)
• Support is seen at 1.7778(23.6%fib) and break below could take the pair towards 1.7745(Nov 22nlowd)
Recommendation: Good to sell around 1.7840, with stop loss of 1.7970 and target price of 1.7770
