FxWirePro: EUR/NZD neutral in the near-term, scope for downward resumption

• EUR/NZD dipped d on Thursday as Eurozone GDP  data added pressure on already weak Eurozone growth outlook.

• Eurozone's Q2 economic expansion fell short of initial estimates, grows by 0.1%, the latest figures from Eurostat showed on Thursday. 

• A fresh bearish signal has emerged today  , break  of  support 1.8163(38.2% fib) will bring 1.8100 level  in  focus.

• Technicals   highlight dowside risks. The 5, 9 and 11  day moving averages are trending south, daily RSI is pointing downwards. 

• Immediate resistance is located at 1.8215(9DMA), any close above will push the pair towards 1.8328 (23.6%fib).

• Strong support is seen at 1.8163(38.2% fib) and break below could take the pair towards 1.8116(Lower BB )

Recommendation: Good to sell  around 1.8200, with stop loss of 1.8280 and target price of 1.8140