• EUR/NZD gained on Monday as euro gained some upside traction ahead of this week's ECB meeting.
•The European Central bank is likely to hike its policy rates by 25 basis points and signal a 50-basis point increase for September.
• At GMT 16:28, the pair was trading up 0.62 percent at 1.6479.
• Technical signals are bearish as RSI is at 45, daily momentum studies 10, 11 and 21 DMAs are trending down.
• Immediate resistance is located at 1.6552 ( 50%fib), any close above will push the pair towards 1.6610 (21DMA)
•Strong support is seen at 1.6305 (50%fib ) and break below could take the pair towards 1.6259 (Lower BB).
Recommendation: Good to sell around 1.6500, with stop loss of 1.6620 and target price of 1.6530
