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FxWirePro: EUR/NZD beginning to trend higher but hurdle ahead

• EUR/NZD strengthened on Tuesday as the pair recovered from early dip as geopolitical concerns eased. • The euro erased Monday's losses against the kiwi dollar , the pair was last up at 0.66% at 1.6909 . • The euro is e…

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FxWirePro: EUR/NZD beginning to trend higher but hurdle ahead
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• EUR/NZD strengthened on Tuesday  as the pair   recovered  from early dip as geopolitical concerns eased.

• The euro   erased Monday's losses against the kiwi dollar , the pair was last up  at 0.66% at  1.6909  .

• The euro is expected to stay sensitive to concerns over U.S. tariffs and political uncertainty in Germany, with the country set to hold elections on February 23.

• From a technical viewpoint, RSI  is bearish at 46, daily momentum studies, 5, 10 and 11 daily  MAs are pointing south .

• Immediate resistance is located at 1.7961 (50%fib), any close above will push the pair towards 1.8000(Psychological level).

• Immediate support is seen at 1.7842 (38.2%fib) and break below could take the pair towards 1.7788 (Lower BB).

Recommendation: Good to sell   around 1.7960, with stop loss of 1.8050  and target price of 1.7900

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