• EUR/NZD declined on Friday as increased risk appetite boosted kiwi dollar against euro.
• EUR/NZD slide halts after failing to break at the 23.6% fib support, daily close and break below will accelerate towards 1.7500 level.
•Technical signals show the pair could lose more ground in the short-term as RSI is at 26 bearsih, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.7682(38.2% fib), any close above will push the pair towards 1.7722(5DMA).
• Strong support is seen at 1.7533(23.6% fib) and break below could take the pair towards 1.7511(Jul 13th low)
Recommendation: Good to sell around 1.7630, with stop loss of 1.7780 and target price of 1.7500
