• EUR/NZD declined on Tuesday as kiwi dollar strengthened as investors awaited this week's RBNZ policy meeting.
• The Reserve Bank of New Zealand (RBNZ) decides policy on Wednesday, with markets priced for a quarter point increase to interest rates.
• The 23.6% fib is key support, a daily close below would extended losses towards 1.6518 (Lower BB)
• Technical highlight downside risks,daily RSIs is falling, momentum averages are trending down.
• Immediate resistance is located at 1.6696 ( 14DMA), any close above will push the pair towards 1.6723 (38.2%fib)
• Strong support is at 1.6626(23.6%fib ) and break below could take the pair towards 1.6518 (Lower BB).
Recommendation: Good to sell around 1.6660 with stop loss of 1.6730 and target price of 1.6500
