• EUR/ NZD declined on Thursday as investors shrugged off hawkish messages from the European Central Bank.
• The ECB raised interest rates for the fifth successive time on Thursday and signalled another half a percentage point increase for March but left its options open further ahead.
• EUR/AUD drops below the 21-DMA , slide halts at the 1.6750 (23.6%fib),break below will accelerate towards 1.6700 level.
• Technical are bearish, daily RSI is negative at 44, daily momentum studies 9 and 10 DMAs are trending down.
• Immediate resistance is located at 1.6837 (21DMA ), any close above will push the pair towards 1.6912 (Daily high).
• Strong support is seen at 1.6750 (23.6%fib ), and break below could take the pair towards 1.6675(Lower BB).
Recommendation: Good to sell on around 1.6830, with stop loss of 1.6930 and target price of 1.6760
