• EUR/NZD dipped on Monday as euro was weighed down by investor worries about possible tariffs by a new White House administration.
• The common currency has been further pressured by ongoing German political concerns following the collapse of the three-way governing coalition.
• German Chancellor Olaf Scholz said over the weekend he would be willing to call a vote of confidence in parliament before Christmas.
• Technical signals are bearish as RSI is at 42, daily momentum studies 5, 9 and 10 DMAs are trending down.
• Immediate resistance is located at 1.7944( 38.2% fib), any close above will push the pair towards 1.8000( Psychological level)
• Support is seen at 1.7782(23.6%fib) and break below could take the pair towards 1.7711 (Lower BB).
Recommendation: Good to sell around 1.7950, with stop loss of 1.8000 and target price of 1.7900
