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FxWirePro:EUR/NZD neutral in the near-term, scope for downward resumption

• EUR/NZD little changed on Monday as investors were caution ahead of this week's RBNZ policy decision . • Interest rate decision by the Reserve Bank of New Zealand (RBNZ), which will be announced on Wednesday. • Investo…

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FxWirePro:EUR/NZD neutral in the near-term, scope for downward resumption
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• EUR/NZD little changed  on Monday  as investors were caution ahead of this week's   RBNZ   policy decision .

• Interest rate decision by the Reserve Bank of New Zealand (RBNZ), which will be announced on Wednesday.

• Investors will keenly focus on cues about when the RBNZ will start cutting its Official Cash Rate (OCR).

• Immediate resistance is located at 1.8003(9EMA), any close above will push the pair towards 1.8046 (Daily high).

• Immediate support is seen at 1.7960 (38.2%fib) and break below could take the pair towards 1.7924 (March 21s low).

Recommendation: Good to sell  around 1.8000, with stop loss of 1.8100 and target price of 1.7930

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