• EUR/NZD dipped on Monday as upbeat improved risk sentiment supported kiwi dollar.
• New Zealand Dollar was also on the upswing, buoyed by growing optimism regarding the prospects of its largest trading partner China.
• Technical signals are bearish as RSI is falling, daily momentum studies 5 ,9 DMA’s are trending lower.
• Immediate resistance is located at 1.8163(50%fib ), any close above will push the pair towards 1.8252(61.8%fib).
• Strong support is seen at 1.8095(38.2%fib) and break below could take the pair towards 1.7984 (23.6%fib).
Recommendation: Good to sell around 1.8150 with stop loss of 1.8250 and target price of 1.8070
