• EUR/NZD declined on Monday as kiwi dollar firmed against euro ahead of the Reserve Bank of New Zealand's policy decision on Wednesday.
•The Reserve Bank of New Zealand is expected to cut its official cash rate (OCR) by 50 basis points to 3.75% on Wednesday.
• The week is filled with key data releases, including HCOB February flash PMI data for the euro zone due on Friday
• Technical signals show the pair could lose more ground as RSI has turned lower, and 5, 9 DMA’s are trending south.
• Immediate resistance is located at 1.8339 (38.2%fib), any close above will push the pair towards 1.8453(Daily high).
• Immediate support is seen at 1.8215 (50% fib) and break below could take the pair towards 1.7599 (Lower BB).
Recommendation: Good to sell round 1.8300, with stop loss of 1.8380 and target price of 1.7230
