• EUR/NZD declined on Friday as pair was weighed down on French election uncertainty.
• The prospect either of an RN-led government or the political paralysis of a hung parliament has unnerved financial markets.
• The scope is growing for a break under the 23.6% fib support, which in turn will unmask 1.7500 level in the short term .
• Technical signals show the pair could lose more ground as RSI has turned lower 48, and 5, 9 DMA’s are trending south.
• Immediate resistance is located at 1.7630 (38.2%fib), any close above will push the pair towards 1.7714(50%fib).
• Immediate support is seen at 1.7532 (23.6% fib) and break below could take the pair towards 1.7478(June 26th low).
Recommendation: Good to sell round 1.7570, with stop loss of 1.7690 and target price of 1.7500
