FxWirePro: EUR/NZD uptrend loses steam, remains on bullish path

•EUR/NZD initially gained but gave up ground on Friday as traders digested Eurozone data and awaited fresh catalyst.

• Eurozone’s seasonally adjusted current account surplus widened to €25.7 billion from €23.1 billion previously, an increase of €2.6 billion or about 11.3%.

•The higher surplus signals stronger external balances compared with the prior month, reinforcing an improving trend in the region’s external position.

•In Germany, producer prices of industrial products were down 2.3% in November, compared with a year earlier, according to the country's Federal Statistical Office, which attributed the decline to lower energy prices.

•Immediate resistance is located at 2.0416 (Daily high), any close above will push the pair towards 2.0506 (Higher BB).

•Immediate support is seen at 2.0273 (38.2%fib) and break below could take the pair towards 2.0075(Dec 10 low).

Recommendation: Good to buy around 2.0320 with stop loss of 2.0200 and target price of 2.0400