• EUR/NZD declined on Friday as investors digested a flurry of economic data ahead of the long Christmas holiday weekend.
• EUR/NZD approached to test resistance 1.6988(38.2%fib) but retreated as the pair lost strength.
• EUR/AUD bulls need to overcome 38.2%fib resistence, in order to keep the bias on gains. 14-day momentum remains positive, reinforcing the bullish market.
• Immediate resistance is located at 1.6988(38.2%fib), any close above will push the pair towards 1.7075(HIigher BB).
• Immediate support is seen at 1.6831 (5DMA) and break below could take the pair towards 1.6770 (50% fib).
Recommendation: Good to sell round 1.6860, with stop loss of 1.6760 and target price of 1.6920
