• EUR/NZD declined on Friday as broad based New Zealand dollar buying drove EUR/NZD pair lower
• EUR/NZD drops below the 5-DMA , slide halts near 50% fib support,break below will accelerate towards 1.4850 level.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 61 bearish, daily momentum studies 5, 10 and 21 DMAs are trending up.
• Immediate resistance is located at 1.7812(5DMA ), any close above will push the pair towards 1.7898(38.2%fib ).
• Strong support is seen at 1.7747 (50%fib ) and break below could take the pair towards 1.7646 (14DMA )
Recommendation: Good to sell around 1.7770 , with stop loss of 1.7850 and target price of 1.7700
