FxWirePro: EUR/NZD struggle to extend its recovery, good to sell on rally

• EUR/NZD strengthened on Wednesday after Fed held rates steady and signalled more hikes by year end.

• EUR/NZD remains below 1.8677( 50%fib) resistence,Daily  close below 1.7382(23.6%fib) increase the scope for much bigger drop.

• From a technical viewpoint, the moving averages are pointing downwards, while the RSI  is strongly bearish at 44.

•  Immediate resistance is located at 1.7506 (38.2% fib), any close above will push the pair towards 1.7577 (9DMA).

• Immediate support is seen at 1.7426 (Daily low) and break below could take the pair towards 1.7382(23.6%fib).

Recommendation: Good to sell around 1.7500 with stop loss of 1.7600  and target price of 1.7450