• EUR/NZD declined on Monday as the pair attracted sellers ahead of a slew of Eurozone data and Fed event.
• Investors are now focused on Euro Zone April HICP, Q1 GDP & US Q1 employment costs data on Tuesday .
• The pair reaches 1.7910 after extending south from 1.8015 (Daily high). 1.7910 is the lowest level since April 15th.
• Technically, the moving averages are indicating a downward trend, while the Relative Strength Index (RSI) is strongly bearish at 46.
• Immediate resistance is located at 1.7988 (38.2%fib), any close above will push the pair towards 1.8020(Daily high).
• Immediate support is seen at 1.7910 (23.6% fib) and break below could take the pair towards 1.7888(Lower BB).
Recommendation: Good to sell round 1.7940, with stop loss of 1.8100 and target price of 1.7860
