• EUR/NZD declined on Thursday as investors anticipated the European Central Bank was close to the end of its tightening cycle.
• The European Central Bank (ECB) raised interest rates for the ninth consecutive time on Thursday.
•In the aftermath, EUR/NZD fell 0.48%, to 1.17686 its lowest since July 11, plunging from Thursday's 1.7859 daily high
• From a technical viewpoint, the moving averages are pointing downwards, while the RSI has turned lower.
• Immediate resistance is located at 1.7800( 11DMA), any close above will push the pair towards 1.7844 ( 38.2%fib).
• Strong support is seen at 1.7739 (50%fib) and break below could take the pair towards 1.17686 (Daily low).
Recommendation: Good to sell around 1.7770 with stop loss of 1.7670 and target price of 1.7880
