• EUR/NZD declined on Wednesday as the pair attracted sellers after data showed U.S. inflation slowed more than expected.
•The pair is approaching 61.8%fib,a daily close below will accelerate towards 1.7150 in the short term.
• From a technical viewpoint, the moving averages are pointing downwards, while the RSI is bearish at 35.
• Immediate resistance is located at 1.7333( Daily high), any close above will push the pair towards 1.7378 ( 5DMA).
• Strong support is seen at 1.7207(61.8%fib) and break below could take the pair towards 1.7167 (5th April Low).
Recommendation: Good to sell around 1.7260, with stop loss of 1.7380 and target price of 1.7180.
