• EUR/NZD declined on Tuesday as upbeat risk sentiment amid Middle-East conflict boosted New Zealand dollar.
• The euro erased early’s gains against the kiwi dollar , the pair was last up at 0.07% at 1.7550
• Technical signals are bearish as RSI is at 31, daily momentum studies 5, 9 and 10 DMAs are trending down.
• Immediate resistance is located at 1.7616 (38.2%fib ), any close above will push the pair towards 1.7650(11DMA).
• Strong support is seen at 1.7535 (23.6%fib) and break below could take the pair towards 1.7477(Jul 6th low).
Recommendation: Good to sell around 1.7560, with stop loss of 1.7650 and target price of 1.7450
