• EUR/NZD declined on Thursday as improved risk sentiment in global financial markets boosted risker currency like kiwi dollar.
• Improved risk sentiment in global financial investors’ risk appetite improved after Beijing injected fresh cash into its financial system ahead of an $83.5 million bond coupon by embattled property giant Evergrande .
• Selling pressure will remain in the short-term, only a move above 1.6664(21DMA) strong resistance will shift the bias higher.
• Technical signals show the pair could lose more ground as RSI is at 41 bearish, and 9, 11,21 DMA’s are trending south.
• Immediate resistance is located at 1.6629 (38.2%fib), any close above will push the pair towards 1.6664(21DMA).
• Immediate support is seen at 1.6550 (23.6%fib) and break below could take the pair towards 1.6520 (Lower BB).
Recommendation: Good to sell round 1.6600, with stop loss of 1.6670 and target price of 1.7480
