• EUR/NZD eased on Friday as stronger-than-expected US PCE inflation data prevented the pair from gaining bullish traction.
• The personal consumption expenditures (PCE) price index rose 0.3% in March, compared to a forecast of a 0.3% increase, according to the data
• The euro erased Thursday’s gains against the kiwi dollar , the pair was last down at 0.26% at 1.7989 .
• A close below 50%fib, would add to pair’s bearish structure, opening the way for 1.7900 level
• Immediate resistance is located at 1.8060 (38.2%fib), any close above will push the pair towards 1.8140 (Higher BB).
• Immediate support is seen at 1.7970(50%fib) and break below could take the pair towards 1.7914 (April 9th low).
Recommendation: Good to sell around 1.8010, with stop loss of 1.8100 and target price of 1.7900
