FxWirePro: EUR/NZD hits fresh one-year low at 1.5220, momentum bearish, scope for test of 1.5080

• EUR/NZD slips lower, hits fresh one-year low of 1.5220, momentum bearish, we see scope for test of 1.5045 levels.
   
• The pair has broken below 200-SMA on the weekly charts, Technical indicators are heavily bearish.
   
• The pair finds next major support on the downside at 1.5080 levels and then at 1.4787.
   
• Uncertainty in the euro area post-Brexit and rising commodity prices (which are supportive for NZD) weigh negatively for the pair.
   
• Bearish invalidation only above 50-DMA currently at 1.6182.
  ​

Recommendation: Good to short rallies, SL: 1.6182, target: 1.5080/1.4935/1.4787