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FxWirePro:EUR/NZD force is with bears as pair hits lowest since June 8th

• EUR/NZD declined on Friday as strong commodity prices and  buoyant risk appetite boosted New Zealand dollar.

• EUR/NZD dived below the 38.2% fib and trades down to a 1.6687 low.

• Technical lean bearish, RSI is lower at 47, momentum studies, 9, 11 DMAs falling southwards.

• Immediate resistance is located at 1.6899( 38.2%fib), any close above will push the pair towards 1.6955 (50% fib)

• Support is seen at 1.6853 (Daily low ) and break below could take the pair towards 1.6830 (23.6%fib).

Recommendation: Good to sell around 1.6880, with stop loss of 1.6950 and target price of 1.6780.
 

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