• EUR/NZD dipped on Thursday as improved risk sentiment supported kiwi dollar.
• At GMT 20:17, the pair was trading down 0.09 percent at 1.7729 after reaching daily low at 1.7689.
• Technical signals are bearish as RSI is falling, daily momentum studies 5 ,9 DMA’s are trending lower.
• Immediate resistance is located at 1.7783 (38.2%fib ), any close above will push the pair towards 1.7844(31st May high).
• Strong support is seen at 1.7727(5DMA) and break below could take the pair towards 1.7684 (50%fib).
Recommendation: Good to sell around 1.7750 with stop loss of 1.7850 and target price of 1.7650
