•EUR/NZD declined on Wednesday as kiwi outperformed euro after RBNZ sounded upbeat on the New Zealand’s economy .
• The kiwi’s ascent came as the Reserve Bank of New Zealand (RBNZ) kept interest rates at 0.25% as expected and said the economy was strong enough that further stimulus.
• The 23.6% fib is key support ,a daily close below would extended losses towards 1.6300.
• At GMT 18:32, the pair was trading down 0.80 percent at 1.6407.
• Technicals highlight downside risks,daily RSIs is falling, implying bearish momentum..
• Immediate resistance is located at 1.6482 ( 38.2%fib), any close above will push the pair towards 1.6548 (50%fib)
• trong support is at 1.6378 (23.6%fib ) and break below could take the pair towards 1.6300(Psychological level).
Recommendation: Good to sell around 1.6400, with stop loss of 1.6500 and target price of 1.6300
