FxWirePro: EUR/NZD capped below 20-DMA, bias lower, good to short rallies

• EUR/NZD remains capped below 20-DMA, intraday bias lower.
   
• Technicals support further downside in the pair, we see scope for test of 1.4848. 
   
• Bearish reversal only above 20-DMA at 1.5148, test of 23.6% Fib at 1.5336 then likely.
   
• Major support levels - 1.4944 (Nov 10 low), 1.4848 (Nov 9 low)
   
• Major resistance levels - 1.5082 (5-DMA), 1.51, 1.5149 (20-DMA)
   

Recommendation: Good to go short on rallies around 1.5070/80, SL: 1.5160, TP: 1.50/ 1.4950/ 1.49/1.4850
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FxWirePro's Hourly EUR Spot Index was at 21.2464 (Neutral), while Hourly NZD Spot Index was at 30.4471 (Neutral) at 0900 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex