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FxWirePro: EUR/NZD positions for another drop, eyes 2.0100 level

• EUR/NZD initially gained but gave ground on Friday as flows remained light amid Boxing day holiday  .

• Liquidity remained thin amid thin holiday trade, with an early   gains  partially reversed as the session progressed, leaving price action largely range-bound.

• The 50%fib   is  key support ,a daily close below would   extended losses towards Lower BB.

•  Technical highlight downside risks, daily  RSIs is falling, implying bearish momentum.

• Immediate resistance is located at 2.0230 ( SMA 20), any close above will push the pair towards 2.0374 (38.2%fib)

• Strong support is  at 2.0156 (50%fib) and break below could take the pair towards 2.0092(Lower BB).

Recommendation: Good  to sell around 2.0200 , with stop loss of 2.0300 and target price of 2.0100
 

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