FxWirePro:EUR/NZD gains some upside momentum but still bearish

• EUR/NZD firmed on Wednesday   as investors reacted  the Federal Reserve interest rates .

• The Fed kept interest rates unchanged at 3.50%-3.75%, as expected, although three of the 12 FOMC members dissented in favor of a 25-basis-point rate hike..

• Fed Chair Kevin Warsh said the central bank has no inflation target above 2% and remains fully committed to achieving its longstanding 2% inflation goal, despite leaving interest rates unchanged amid still-elevated price pressures.

•Traders now see a 64% chance of a rate hike in September, compared with around an 81% chance seen before the policy statement, according to CME Group's FedWatch too

• EUR/NZD has seen range 1.9672-1.9799  the pair is likely to be drop  towards 1.9700 level.

• Immediate resistance is located at 1.9806(38.2% fib), any close above will push the pair towards 2.0000 (Psychological level).

• Immediate support is seen at 1.9675(July 29t low) and break below could take the pair towards 1.9497 (23.6% fib).

Recommendation: Good to sell  around 1.9770  with stop loss of 1.9850  and target price of 1.9700