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• EUR/NZD initially gained but gave up ground as investors digested Eurozone business activity data.
• Growth in the euro zone services sector accelerated slightly in September to an eight-month high and Germany's services sector also recorded its fastest growth in eight months.
•S&P Global reported that the HCOB Eurozone Services PMI Business Activity Index increased to 51.3 in September from 50.5 in August, marking a fourth straight month of expansion
•Meanwhile in France, its dominant services sector contracted more than initially estimated in September while British business activity grew at the slowest pace in five months.
• Immediate resistance is located at 2.0198( Oct2nd high), any close above will push the pair towards 2.0318 (23.6%fib)
• Strong support is seen at 2.0105(Daily low ) and break below could take the pair towards 1.9987 (38.2%fib).
Recommendation: Good to buy around 2.0120 with stop loss of 2.0050 and target price of 2.0200
