• EUR/NZD declined on Friday as pair attracted seller after ECB policymaker hinted slower rate hikes.
• Dutch Central Bank President Klaas Knot said on Friday,ECB may slow the pace of interest rate hikes but should soon start running down its massive government debt holdings.
• EUR/NZD drops below the 5-DMA , slide halts at the 1.6916 (50%fib),break below will accelerate towards 1.6650 level.
• Technical signals are bearish as RSI is heading down at 44, daily momentum studies 5, 9 and 1 DMAs are trending down.
• Immediate resistance is located at 1.6867 (5 DMA), any close above will push the pair towards 1.6916(50%fib)
• Strong support is seen at 1.6743 (38.2%fib ) and break below could take the pair towards 1.6650(Lower BB).
Recommendation: Good to sell on rally around 1.6770, with stop loss of 1.6860 and target price of 1.6700.
