• EUR/NZD initially declined but recovered some ground after the U.S. Federal Reserve held interest rates unchanged but struck a hawkish stance for future policy.
• A close below 50% fib support will give further momentum to bears, opening the way for a run towards 1.7850 level.
• Technical signals are bearish as RSI is lower at 43 , daily momentum studies 5, 9 and 10 DMAs are trending down.
• Immediate resistance is located at 1.7979(38.2% fib), any close above will push the pair towards 1.8014(5DMA).
• Strong support is seen at 1.7892 (50% fib) and break below could take the pair towards 1.7805 (61.8% fib).
Recommendation: Good to sell around 1.8000, with stop loss of 1.8190 and target price of 1.7900
