• EUR/NZD eased on Monday as geopolitical risks and downbeat Ifo data weighed on the pair.
• EUR/NZD fell to 1.7687 after hitting daily high at 1.7760. Price is contained between two fibo retrace levels, 1.7788 and 1.7647
• Technical signals are bullish as RSI is at 55, momentum studies, 10, 14 & 21 DMAs are trending up.
• Immediate resistance is located at 1.7788( 38.2%fib), any close above will push the pair towards 1.7859(Higher BB)
• Strong support is seen at 1.7642(21DMA ) and break below could take the pair towards 1.7611(50%fib).
Recommendation: Be on sidelines
