• EUR/NZD initially gained but gave ground on Friday as flows remained light amid Boxing day holiday .
• Liquidity remained thin amid thin holiday trade, with an early gains partially reversed as the session progressed, leaving price action largely range-bound.
• The 50%fib is key support ,a daily close below would extended losses towards Lower BB.
• Technical highlight downside risks, daily RSIs is falling, implying bearish momentum.
• Immediate resistance is located at 2.0230 ( SMA 20), any close above will push the pair towards 2.0374 (38.2%fib)
• Strong support is at 2.0156 (50%fib) and break below could take the pair towards 2.0092(Lower BB).
Recommendation: Good to sell around 2.0200 , with stop loss of 2.0300 and target price of 2.0100
