FxWirePro: EUR/NZD remains at risk of an eventual drop to A major fibo

• EUR/NZD initially dipped  but recovered some ground as rate hike, inflation angst soured risk sentiment.

•  EUR/NZD  drops below the 5-DMA  , slide halts at the 1.4938(38.2%fib),break below will accelerate towards  1.4850 level.

•EUR/NZD  remains vulnerable, Bulls need a close above the 1.6662 (50%fib)to remove reversal risk.

• Immediate resistance is located at 1.6533 ( 5DMA), any close above will push the pair towards 1.6662 (50%fib).

• Strong support is seen at 1.6488(38.2%fib) and break below could take the pair towards 1.6365(Lower BB).

 Recommendation: Good to sell around 1.6570, with stop loss of 1.6700 and target price of 1.6490