• EUR/NZD eased on Tuesday but shorts struggled to maintain momentum as investors grew cautious ahead of key data on U.S. consumer prices.
• Selling pressure will remain in the short-term, only a move above 1.7528( 38.2% fib) strong resistance will shift the bias higher.
• Technical signals show the pair could lose more ground as RSI is at 38 bearish, and 9, 11,21 DMA’s are trending south.
• Immediate resistance is located at 1.7375(50%fib), any close above will push the pair towards 1.7396(5DMA).
• Immediate support is seen at 1.7262 (Daily low) and break below could take the pair towards 1.7214(61.8% fib).
Recommendation: Good to sell round 1.7310, with stop loss of 1.7470 and target price of 1.7230
