• EUR/NZD strengthen on Tuesday as upbeat German investor sentiment lifted euro.
• The ZEW research institute said its survey of investors rose to 84.4 focuses from 70.7 in the earlier month.
• Despite today's EUR/NZD gains, bears remain in control eyeing further further drop towards 1.6600 level.
• Technical lean bearish, RSI is trending down , momentum studies, 9, 10,11 DMAs are trending southwards.
• Immediate resistance is located at 1.6749( 23.6%fib), any close above will push the pair towards 1.6821( Higher BB).
• Support is seen at 1.6674 (5DMA) and break below could take the pair towards 1.6626 (Lower BB).
Recommendation: Good to sell around 1.6720, with stop loss of 1.6800 and target price of 1.6640.
