• EUR/NZD slipped below 1.8100 level on Tuesday as positive risk sentiment boosted kiwi dollar against euro .
• On the data front, German investor morale darkened more than expected in August, posting its strongest decline in two years .
•The economic sentiment index fell to 19.2 points from 41.8 points in July. Analysts polled had pointed to a reading of 32.0.
• EUR/NZD appears set to extend its downside bias as daily technicals highlighting more downside risk.
• Immediate resistance is located at 1.8206( 38.2% fib), any close above will push the pair towards 1.8275 (Aug 8th high).
• Support is seen at 1.8067(50%fib ) and break below could take the pair towards 1.7935(61.8%fib).
Recommendation: Good to sell on rally around 1.8090, with stop loss of 1.8180 and target price of 1.8000
