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FxWirePro: NZD/USD holds above 0.5600 but upside is limited

• The NZD/USD gained some upward traction  on Monday   as strong China services activity data provided some support to kiwi dollar.

• Data showed, China's   services sector saw the fastest growth in seven months in december, fueled by a surge in domestic demand..

• The Caixin/S&P Global services purchasing managers' index (PMI) rose to 52.2 in December from 51.5 the previous month.

• At GMT06:07, the New Zealand dollar often used as a proxy for China's currency was up   0.29% to $0.5624.

•  Immediate resistance is located at 0.5646(38.2%fib), any close above will push the pair towards 0.5850(50%fib).

•  Support is seen at 0.5588 (23.6%fib) and break below could take the pair towards 0.5521(Lower BB).

 Recommendation: Good to sell around 0.5640, with stop loss of 0.5700 and target price of 0.5550

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