• EUR/NZD declined on Tuesday as risk sentiment flowed back into the market after dollar gains cooled off.
• EUR/NZD traded in range 1.8339-1.8229 the pair was last trading down 0.43 percent at 1.8223
• Technical signals show the pair could lose more ground as RSI is falling, and 9, 11,21 DMA’s are trending south.
• Immediate resistance is located at 1.8283 (9DMA), any close above will push the pair towards 1.8344 (38.2%fib).
• Immediate support is seen at 1.8202 (50%fib) and break below could take the pair towards 1.8147(Aug 24th low).
Recommendation: Good to sell round 1.8250, with stop loss of 1.8400 and target price of 1.8150
