• EUR/NZD initially gained on Thursday, but rally fizzled as soured risk sentiment attracted seller.
• EUR/NZD hits daily high at 1.6914 but reverses course to trade at 1.6574 in afternoon US session. EUR/NZD could be set for a slide toward the 50%fib.
• Technical are mixed, RSI is turnning lower, momentum studies, 5, 10 DMAs are trending up.
• Immediate resistance is located at 1.6841 ( Higher BB), any close above will push the pair towards 1.6870(23.6%fib).
• Support is seen at 1.6800 ( 38.2%fib)and break below could take the pair towards 1.6740 (50%fib).
Recommendation: Good to sell around 1.6800, with stop loss of 1.6900 and target price of 1.6730.
