• EUR/NZD declined on Tuesday as oil prices and buoyed risk sentiment boosted kiwi dollar.
• Bearish signals are increasing as the pair falls below the 21-DMa & 50%fib support
• From a technical viewpoint, the moving averages are pointing downwards, while the RSI is strongly bearish at 47.85.
• Immediate resistance is located at 1.7617 ( 50%fib), any close above will push the pair towards 1.7717 (61.8%fib).
• Immediate support is seen at 1.7520 (38.2%fib) and break below could take the pair towards 1.7560 (Lower BB).
Recommendation: Good to sell around 1.7580, with stop loss of 1.7680 and target price of 1.7510
