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FxWirePro:EUR/NZD falls as EU energy crisis deepens, good to sell on rally

• EUR/NZD dipped  on Monday  as Eurozone gas supply issues  weighed on euro.

• Russia's halt to gas supplies down its main pipeline to Europe heightened fears about a deepening energy crisis across the Eurozone region.

• EUR/NZD dipped to hit daily at 1.6235 and recovered to trade last at 1.6292. Sustained break below 23.6 % fib would target support at 21 DMA (1.6158)

• Strong resistance is located at 1.6354 (5 DMA), any close above will push the pair towards 1.6441(Higher BB).

• Strong  support is seen at 1.6231 (23.6 % fib) and break below could take the pair towards 1.6158 (21DMA).

Recommendation: Good to sell  around 1.6280, with stop loss of 1.6360 and target price of 1.6200.
 

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