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FxWirePro:EUR/NZD attracts selling interest, vulnerable to more downside

• 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

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