• EUR/NZD recovered some ground on Monday after data showed Euro sentix investor confidence improved in October.
•Eurozone sentix investor confidence Index improved to -18.6 in November vs -22.2 forecast.
• The pair hit daily high at 1.8007 and was last trading up 0.49 % at 1.7961 late in US session.
• Technical outlook is bearish in short-term as RSI is lower at 48, moving averages are trending down
• Immediate resistance is located at 1.8000(38.2%fib), any close above will push the pair towards 1.8086(9DMA).
• Strong support is seen at 1.7867(23.6% fib) and break below could take the pair towards 1.7812 (17th Oct low ).
Recommendation: Good to sell around 1.7980 with stop loss of 1.8150 and target price of 1.7900
