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FxWirePro:EUR/NZD key support close and vulnerable, scope for a sustained break below 1.6700

• EUR/NZD gave up early gains on Friday as new lockdown in France offset  upbeat factory data from the euro zone.

• EUR/NZD hit daily high at 1.6865, before reversing course  trade at 1.6758 by 14:33 GMT. Support at 1.6719 (38.2%fib)  are now threatened.

• Technical signals  favours  bearish sentiment, RSI is falling southwards and pair trades below 5,9 & 11-DMAs.

• Resistance is located at 1.6788( 5DMA) and at 1.6838 (50%fib).

• Support is found at 1.6719 (38.2%fib) and at 1.6690(21DMA).

Recommendation: Good to sell  around 1.6780, with stop loss of 1.6850 and target price of 1.6680
 

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