• EUR/NZD declined on Thursday as kiwi dollar continued to be buoyed by unexpected strong New Zealand employment data .
• Commodity gains and a rebound in stocks from their lows have also contributed to the buoyancy of the kiwi dollar.
• The pair picked up downside momentum and is approaching 50 % fib support. A close below will open up 1.8000 level.
• Immediate resistance is located at 1.8288(38.2 %fib), any close above will push the pair towards 1.8464(23.6%fib).
• Strong support is seen at 1.8080(Aug 1st low) and break below could take the pair towards 1.7998 ( 50%fib).
Recommendation: Good to sell around 1.8200, with stop loss of 1.8300 and target price of 1.8100
