• EUR/ NZD declined on Tuesday as commodity linked currencies like kiwi dollar rose against euro after underlying U.S. consumer price inflation rose less than expected last month.
• The pair fell to a three-month low after the data. The pair hit 1.6356, the lowest since September 7th 2022.
• The pair attempting to breach support at 23.6% fib. A decisive break push the towards .
•Immediate resistance is located at 1.6483 ( 5DMA), any close above will push the pair towards 1.6562 (38.2% fib).
•Immediate support is seen at 1.6356 (23.6% fib) and break below could take the pair towards 1.6282(Lower BB).
Recommendation: Good to sell around 1.6420 with stop loss of 1.6530 and target price of 1.6360,
