• 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
