• EUR/NZD declined on Tuesday as investors looked to more monetary policy hints from the United States.
• The pair traded down to 1.6995 and was around there into the US afternoon.
• The pairs bias is lower, scope grows for bigger losses, a break and daily close under 1.6951 50%fib would the weaken the pair outlook further.
• Technical signals are bearish as RSI is turning lower, daily momentum studies 5 and 9 DMAs are trending down.
• Immediate resistance is located at 1.7020 (38.2%fib ), any close above will push the pair towards 1.7104(23.6%fib).
• Strong support is seen at 1.6986 (Daily low) and break below could take the pair towards 1.6953 (50%fib).
Recommendation: Good to sell around 1.7000, with stop loss of 1.7110 and target price of 1.6920.
