• EUR/NZD edged higher on Wednesday but gains were limited as investors awaited key PMI data from Eurozone .
• Eurozone’s flash business PMI figures could provide fresh insight on the state of the economy on Thursday.
• Business sentiment both in the manufacturing and services sectors has been in a gloom-mode since May . EUR/NZD may suffer if there's no sign of improvement.
• Technical signals are bearish as RSI is falling, daily momentum studies 5 ,9 DMA’s are trending lower.
• Immediate resistance is located at 1.8104 (5DMA ), any close above will push the pair towards 1.8130(38.2%fib).
• Strong support is seen at 1.8013(23.6%fib) and break below could take the pair towards 1.7961(15th Nov low).
Recommendation: Good to sell around 1.8100 with stop loss of 1.8180 and target price of 1.8030
